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.
Insurance
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.
OUTsurance’s tied broker channel more than quintuples profit
Stronger South African margins drove group earnings higher, while natural peril and CTP claims weighed on Youi’s rapidly growing Australian business.
Discovery Bank turns the corner as the group’s business changes
Discovery Bank has reached profitability, while Vitality, Invest, and Insure are making larger contributions as the group gradually broadens its earnings base.
A poor credit score and insurance hopping could push up your premium
An impaired credit record and frequent switching may combine to make affordable short-term insurance more difficult to obtain.
High Court rejects challenge to SASRIA’s treatment of co-owned properties
The insurer’s differentiation between co-owners was rationally connected to its risk-management objectives.
Why South Africa’s changing fire risk matters to insurers
Evolving buildings and technologies are complicating structural fires, increasing the importance of prevention, resilience, municipal capacity, and effective risk transfer.
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.
It may be claim number 49. It’s their worst day.
A routine interaction for an insurance professional can be a crisis for the person on the other side, making empathy a practical part of the job.
Claim delay exposes importance of keeping policyholders informed
An NFO case highlights the requirements of Rule 17.8.6 and the consequences when an insurer fails to communicate during a prolonged claims process.
