Group benefits are a safety net – if they’re understood
Employee benefits specialist and Certified Financial Planner® Johann Peens unpacks the common pitfalls that can leave members exposed.
#insurancepolicy
FAIS Ombud highlights need for follow-up when a policy changes materially
Determination says a ‘reasonable broker’ would supplement a bulk email with an email or phone call to ensure the client is aware of new conditions.
Full disclosure is essential as farming operations evolve
Changes such as joint ventures, investing in infrastructure, and switching to higher-value crops can introduce risks that may not be covered.
FAIS Ombud finds broker negligent for failing to update client’s contact details
The material change from a co-policyholder to a sole policyholder should have alerted the FSP of the need to review the policy.
FSP pays R50 000 settlement because of missing record of advice
A complaint over a claim for stolen jewellery prompts the FAIS Ombud to emphasise the importance of maintaining a proper record of advice.
Farmer wins court battle over R10m insurance deduction
The Tax Court rules against SARS in a dispute over a contingency insurance deduction, reaffirming the legitimacy of the policy and its role in protecting income-generating activities.
Don’t let non-disclosure sink your business: insurance insights for owners
Business owners who neglect to inform their insurers of changes risk denied claims, policy voidance, and even lawsuits.
Jewellery insurance: don’t let warranty clauses take you by surprise
The FAIS Ombud warns that failing to adhere to warranty clauses – such as storing jewellery in a safe when not worn – can significantly reduce claim payouts.
Global Insurance Capital Standard gets the nod
After years of meticulous development, the International Association of Insurance Supervisors is shifting its focus to the next big challenge: rolling out the Insurance Capital Standard on a global scale.
