Ombud clears up big misconception about claims rejected for drunk driving
Insurers may reject claims where corroborating evidence places a driver at a pub, shows alcohol purchases, or records behaviour consistent with intoxication.
Insurance
Umboneleli Womngcwabo unyusa izigwebo ezilishumi elinambini (12) ze-FAIS Ombud ngokuchasene nayo
I-FSCA yarhoxisa ilayisenisi ye-Luvuyo’ kwinyanga yeThupha emva kokuba uthotho lwezigqibo lufumanise ukuba le nkampani ayiphumelelanga ukuhlawula amabango kwaye yasebenza ngaphandle kombhali ongaphantsi.
Motorists should understand implications of ‘cash in lieu’ – SAMBRA
Discovery Insure explains its approach when clients are offered cash settlements.
SA leads Africa’s insurance market – but execution will define the next wave
Despite high penetration and digital sophistication, local insurers must turn strategy into action, embedding cover, simplifying products, and building ecosystems to capture the continent’s next growth opportunity.
SASRIA can absorb a catastrophe claim of up to R20bn
The state-owned insurer says it is on track to reach R30bn in reserves by 2029 – but emerging risks could still put its resilience to the test.
Santam starts onboarding farmers under SA’s first parametric insurance licence
Parametric insurance offers smallholder farmers a lifeline against climate shocks, with payouts triggered by predefined weather events rather than traditional claims processes.
Non-life insurers deliver strong performance in 2024 – KPMG survey
Disciplined underwriting, improved claims experience, and robust investment income helped non-life insurers to navigate structural headwinds.
Life insurance sector consolidates its recovery in 2024
KPMG’s survey shows broad improvement across major life insurers, driven by moderate premium growth, stronger investment returns, and efficiency gains.
ASSA launches national Climate Index to guide risk management
South Africa now has a publicly available Climate Index, developed by actuaries and meteorologists, that tracks extreme weather events.
Funeral provider racks up 12 FAIS Ombud rulings against it
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.
Roadworthiness is essential for valid insurance claims, Ombud warns
While insurers can decline claims involving unroadworthy vehicles, repudiations must be linked to the cause of the loss.
Premium growth fuels 33.7% jump in OUTsurance’s profits
Youi delivered strong performance in Australia, but the rand’s appreciation trimmed rand-translated premiums.
Luvuyo Burial hit with three more Ombud rulings over unpaid funeral claims
The funeral provider has faced repeated determinations this year after failing to settle valid claims.
Old Mutual lifts earnings by 29% on strong markets and underwriting gains
Results from operations rose 16% to R4.94bn in the six months to June, boosted by a 71% surge in Old Mutual Insure’s contribution.
New report maps insurance risk patterns, urges shift to proactive strategies
Standard Insurance’s five-year analysis discloses the main perils affecting businesses and households, and when and why policyholders are most likely to claim.
Santam’s GWP up 10% as international business surges by 25%
For the six months to June, Santam reports net income growth of 19%, with a underwriting margin of 11.3% – well above its target range.
South African insurers harness AI to spot risks sooner and serve clients better
From early-warning systems in liability cover to behaviour-based motor premiums, local insurers are adapting AI tools to South Africa’s unique risks.
