
Non-life complaints resolved in favour of policyholders at 16.5%
Lead Ombud Edite Teixeira-Mckinon warns against drawing hasty conclusions about complaints stats without factoring in claims volumes and policy counts.
Lead Ombud Edite Teixeira-Mckinon warns against drawing hasty conclusions about complaints stats without factoring in claims volumes and policy counts.
Most complaints to the NFO went to the Non-life Division, whose interventions yielded R107m in quantifiable benefits for policyholders.
Mobile banking fraud, phishing, and vishing drove 30% of all complaints, highlighting fraud as the leading issue in the Banking Division’s first year under the NFO.
Complaints about life-benefit payouts climbed to 36% of the Division’s cases, from 34% in 2023.
The OPFA on how retirement funds should address non-compliant employers, death benefit allocations, and requests to withhold benefits.
Schemes and healthcare professionals are at odds over whether these recoveries are justified, says the Council for Medical Schemes.
Tarina Vlok, MD of Elite Risk Acceptances, explains the importance of educating policyholders about their insurance coverage and exclusions.
The OBS’s 2023 annual report unveils chargeback disputes, hidden fees, and administrative failures.
The Ombudsman for Banking Services was kept busy with complaints about current accounts, loans, savings accounts, credit cards, and home loans.
The cases dealt with by the banking ombudsman last year included a home auctioned for far below its value and fraud linked to a stolen phone.
There was a further decline in cases that were resolved wholly or partially in favour of the complainants.
There were fewer complaints about funeral benefits in 2023, while complaints about life benefits continued to rise.
‘Lack of maintenance or wear and tear’ gave rise to most of the disputes in several categories of insurance.
The important statistic is the proportion of personal lines complaints relative to an insurer’s share of the total personal lines claims.
The role of the NFO is to aid financial customers to obtain redress for alleged unfair treatment by financial product or service providers.
The Pension Funds Adjudicator also says the conduct of retirement fund administrators during a transfer of administration should be regulated.
Annual report notes a steady increase in disputes related to power surge claims.
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