Stolen excavator claim fails over inadequate due diligence
Although one rejection ground did not apply, breaches involving background checks and false pretences were sufficient to defeat the commercial insurance claim.
Insurance
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.
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.
Sanlam expects Santam deal to lift returns
Sanlam says buying out Santam’s minority shareholders would support earnings growth, improve capital allocation and help lift adjusted return on equity above 20% by 2030.
False incident date costs policyholder his claim and cover
The NFO upheld the claim rejection and policy cancellation after the policyholder admitted combining damage from two incidents and falsifying the date.
Sanlam wants a bigger slice of customers’ financial lives
A new app combining banking, credit, rewards, insurance, and investments aims to attract younger customers and deepen long-term relationships.
JustMoney survey: Debt consumes over 40% of income for half of respondents
Limited emergency savings and frequent two-pot withdrawals show how short-term pressures are testing respondents’ longer-term financial resilience.
Xa amabango e-inshorensi esaliwa: indlela ezisebenza ngayo iimeko ezingabandakanywanga kwi-inshorensi
Isikhalazo esiphononongwe liZiko leSizwe leeNkonzo zoLamlo lwezeMali (iNational Financial Ombud Scheme) sibonisa indlela ezivavanywa ngayo iimeko ezingabandakanywanga kwi-inshorensi ezinxulumene nezenzo ezingekho mthethweni.
Opt-out rules bring financial services into the compliance net
The NCC’s draft guidelines include financial institutions and insurers, giving businesses five months to prepare for monthly database cleansing and enforcement.
RAF’s balance sheet delivers a brutal reality check
The return to the GRAP accounting standard has put R452.4bn of liabilities back on the books – more than nine times the RAF’s annual income of R48.1bn.
Sanlam offers R505 a share to take Santam private
Sanlam wants to take full ownership of Santam in a deal that values minority shareholders’ exit at a 26.6% premium.
Santam strengthens Syndicate 1918 team as Lloyd’s operation scales up
Hina Shavdia joins as COO as Santam increases Lloyd’s capacity and expects a larger loss before the business reaches break-even.
When does a lead become intermediation? Four views on a judgment
Responses to the ruling reveal differing interpretations of the causal link required between lead-generation activities and a financial-product transaction.
Insurer cannot diagnose non-disclosure with hindsight
The doctor’s medical knowledge did not allow Discovery Life to rely on developments he could not reasonably have known about when applying for cover.
Why ‘ever’ matters when answering insurance questions
A fraud-related cancellation almost 15 years earlier cost the policyholder his tornado claim because he failed to disclose it when applying for cover.
Warning against an ‘install and forget’ approach to home solar
About 24% of Fire Ops SA’s structural-fire call-outs since January were linked to alternative-power equipment.
Sanlam bets on banking to deepen customer ties
A new GoTyme-powered banking service is part of a broader strategy to build closer customer relationships, even as investment in future growth weighs on earnings.
