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Tag Archives | Insurance

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Low-cost and health insurance products “debarred” – Will the poor suffer most?

The Council for Medical Schemes (CMS) has published a circular in which it prohibits South African medical aids from offering Low-Cost Benefit Options (LCBO) to low-income market segments. Furthermore, no products based on the Demarcation Exemption Framework and/or the MS Act, i.e. health insurance products, will be allowed beyond 2021. In the view of the […]

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lawss

National Health Insurance Bill – The house is divided

The National Health Insurance (NHI) Bill has been a subject of controversy since inception. Whilst the government forges ahead with the introduction of NHI, many experts believe the system will fail. A wide range of commentaries was made in the wake of its introduction to Parliament on 8 August 2019 and subsequent countrywide public hearings. […]

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short-term-insurance

Santam’s ST Insurance Barometer – Risk increase cannot be addressed by merely hiking premiums

Although South Africans believe that insurance provides them with peace at mind, more than half polled in a recent study indicated that affordability was a key barrier to uninsured risks. These were just some of the key findings of the Santam Short-Term Insurance Barometer, South Africa’s first general insurance barometer. The survey specifically measured the […]

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Ransomware – Beware air waves piracy

According to recent articles, insurance companies around the world are concerned that ransomware-based cyberattacks are on the rise, and that they stand to lose more as hackers step up their efforts to demand bigger ransoms from their victims. “Attacks are ramping up globally, so the number of South African organisations being impacted is increasing as […]

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short-term-insurance

Short term insurance tips – Why the correct details of the client is important

Your clients cover their valuables under a short-term insurance policy as it gives them the needed financial security against loss or damage. Many claim rejections and Ombud cases have revealed that clients sometimes don’t uphold their end of the deal. As a result of incorrect information and not updating their details policies have been declared […]

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