FAIS Ombud highlights risks of failing to inform clients properly
Providers need evidence that clients were informed of material policy requirements, as a case involving a stolen Toyota Prado illustrates.
Disclosure
Medical evidence defeats insurer’s non-disclosure defence
The Appeal Tribunal found that the skin cancer had been completely treated, while evidence showed that the insured did not have lung disease.
The COFI shift that could reshape customer disclosure
Section 31 of the Bill offers a window into a conduct framework built around relationships, outcomes, and ongoing institutional accountability.
COFI turns regulatory information into a supervisory tool
COFI would require FSPs to have systems capable of producing reliable, regulator-ready information when the FSCA requires it.
Insurer cannot rely on policy terms after adviser’s misrepresentation
A policyholder’s godfather was recorded as her father despite the adviser knowing the true relationship, leading to a ruling that the insurer must pay the claim.
Safeguarding client assets under COFI: familiar rules, new expectations
The Bill re-organises existing asset-protection obligations into a fiduciary framework that places greater emphasis on governance, evidence, and customer protection.
Not every medical non-disclosure justifies claim rejection
The Appeal Tribunal found that an undisclosed diagnostic test was not material to the insurer’s assessment of the risk and ordered the claim to be paid.
COFI will connect what financial institutions offer, say, and deliver
The outcomes-based framework links product and service governance with customer expectations and the experience that follows.
Tribunal draws a hard line on undisclosed client benefits
The decision turned on the adviser’s acceptance of personal benefits from a client, the lack of proper compliance disclosure, and the higher standard expected of a KI.
Clearer communication can prevent many motor insurance disputes
The NFO says proactive disclosure, better underwriting conversations, and stronger intermediary oversight will benefit customers and insurers alike.
JSE flags ‘recurrent non-compliance’ in KOBWA censure
The JSE issues a public censure and suspended fine after the Komati Basin Water Authority again failed to publish a required SENS announcement on time.
FSCA to sharpen ESG disclosure rules as scrutiny shifts to conduct
Guidance under development signals stricter application of existing rules to sustainability claims and disclosures.
Gig workers risk claim rejections by choosing the wrong cover
Opting for personal cover to save on premiums can backfire. Insurers may reject claims if income-generating use was not disclosed.
SCA clarifies when liability disclaimers fail to exclude delictual claims
Exclusion clauses will not operate where indemnities are not properly concluded with each participant and brought to their attention.
FAIS Ombud highlights need for follow-up when a policy changes materially
Determination says a ‘reasonable broker’ would supplement a bulk email with an email or phone call to ensure the client is aware of new conditions.
Lack of full and frank disclosure sinks FSP’s licence application
The Tribunal agrees with the FSCA that the entity’s key individual did not ‘come clean’ about her past misconduct.
Full disclosure is essential as farming operations evolve
Changes such as joint ventures, investing in infrastructure, and switching to higher-value crops can introduce risks that may not be covered.
