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Tag Archives | Insurance

House

Homeowner’s insurance – Beware of wear and tear

In 2018, 58% of complaints considered by the Ombud for Short Term Insurance (OSTI) under homeowner’s insurance related to claims for damage caused by acts of nature. These claims relate primarily to storm related loss. According to Ayanda Mazwi, a senior assistant Ombud, the primary cause for complaint, at 48%, was the rejection of claims […]

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Short-term

Short Term Insurance Ombud – Insight into how it operates

Business Day TV’s “You & Your Money” recently interviewed Edite Teixeira-Mckinon, the Deputy Ombudsman for Short-Term Insurance. Teixeira-Mckinon joined Bryan Hirsch, personal financial planner and author, to discuss the operations of the Short-Term Ombudsman’s office. In the interview Teixeira-Mckinon chats about the proposed amalgamation of the Short- and Long-term Insurance Ombuds’s offices, the upward trend […]

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holidays

July holidays – the must-have insurance checklist

In a recent media article, Product Development Actuary for Sanlam Individual Life, Karen Bongers shares a checklist of insurance must-haves that will definitely come in handy before you lock up and set off on that mid-year getaway with your family. This can be used as a good conversation starter with your customer and a good […]

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Finance

Credit Insurance – Does it cover the self-employed?

Credit life or credit protection plans are insurance policies that afford cover to consumers of credit to provide assurance that in the event of their death, disability, terminal illness or retrenchment, the outstanding credit or finance charges will be taken care off. A recent FAIS Ombud newsletter discussed credit life policies in more detail. According […]

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Insuring a student’s valuables

Insuring a student’s valuables

– Tips for your clients This week many universities and colleges re-opened and many students headed back to campus. Marius Neethling, Underwriting Manager for Santam’s Personal Lines recently shared some expert advice on how parents should ensure that their children’s valuable are kept safe while they are they are on campus. Students carry contents worth […]

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Car-insurance

Business or commercial insurance?

Business or commercial insurance? – Advisor’s duty to ensure clients are correctly covered The conundrum of business vs commercial vehicle insurance is once again showcased in one of the most recent determinations issued by the Office of the FAIS Ombud. An insurer originally rejected a client’s claim because the client (“the complainant”) used the insured […]

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