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Tag Archives | determination

horse

Don’t put the cart before the horse – Ensure that an insured is appropriately covered

Obtain all the relevant and available information and make a recommendation that is appropriate in terms of your clients’ needs and circumstances. If advisors fail in this basic requirement, the outcome can be quite expensive. This was the case in a recent FAIS Ombud determination. Background The complainant, whose core business is the breeding of […]

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FAIS Ombud

Hindsight and Objectivity

The recent Molate determination, in which Discovery Life was held liable for losses incurred after the death of a life assured, again raises the issue of objectivity with the benefit of hindsight. Background The complainant made an enquiry regarding life cover at one of the Virgin Active Health Clubs. This enquiry led to the call […]

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Assessment-disputed

Slim vang sy baas

This Afrikaans saying is very apt with regards to a recent Ombud determination in which, for once, the adviser was not held liable for a client’s loss. During January 2012, two complaints were filed with the Ombud’s office against the respondent. The complaints arose from investments made by complainant in a Sharemax syndication. The basis […]

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