I-FSCA yarhoxisa ilayisenisi ye-Luvuyo’ kwinyanga yeThupha emva kokuba uthotho lwezigqibo lufumanise ukuba le nkampani ayiphumelelanga ukuhlawula amabango kwaye yasebenza ngaphandle kombhali ongaphantsi.
The FSCA revoked Luvuyo’s licence in August after a string of determinations found the firm failed to pay claims and operated without an underwriter.
The funeral provider has faced repeated determinations this year after failing to settle valid claims.
Employee benefits specialist and Certified Financial Planner® Johann Peens unpacks the common pitfalls that can leave members exposed.
Policies subject to underwriting had the highest payout rates in 2024, reflecting lower fraud and non-disclosure and the value of comprehensive risk assessment.
From funeral policy breaches to crypto non-compliance and weak AML measures, the regulator’s latest report outlines its key priorities – with online harm topping the list.
Lebohang Funeral Home left policyholders exposed by failing to secure underwriting, misleading clients about their coverage, and refusing to pay a valid funeral claim.
