FAIS Ombud’s report highlights pitfalls in client communication
From misrepresented investment products to overlooked policy details, the cases show how advisers can better serve clients by providing clear, timely, and relevant information.
#insuranceclaims
Survey highlights recovery in SA insurance industry
Non-life insurers bounced back from a loss of R16.7bn in 2022 to a profit of R13.7bn in 2023, while life insurers posted significant profit growth, says KPMG.
Life insurers pay out R298bn as policy lapses remain a concern
ASISA advises consumers to take a holistic view of their finances and avoid hasty decisions that could leave them unprotected.
Sasria aims to reintroduce R1bn cover amid rising reinsurance costs
Sasria’s five-year strategic plan includes the reintroduction of R1bn excess of loss cover and expanding its coverage for events such as natural disasters.
Customer sentiment towards insurers improves despite claims frustrations
King Price came out top in DataEQ’s latest Insurance Sentiment Index, which analyses what consumers are saying about their insurers.
OUTsurance delivers strong financial results with 20.3% earnings growth
OUTsurance South Africa reported an 8.4% increase in gross written premiums for its personal insurance segment and a 71.2% improvement in operating profit for its business insurance.
FSCA wants to know number of personal lines claims in 2023
The information will help the Authority to monitor the extent to which insurers are delivering fair outcomes for consumers.
