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coronavirus

Insurers need to gauge solvency issues resulting from Covid-19 impact via risk profiling

A recent article by BDO South Africa highlighted the importance of financial soundness for institutions with contractual obligations to investors. The question that the boards of insurers should be asking themselves is whether COVID-19 has led to material changes to an insurer’s risk profile. “The Prudential Standard GOI 3.1 requires insurers to conduct an own […]

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business-for-sale

Issues after the sale of a Brokerage

The issue of accountability for an omission was covered in a FAIS Ombud determination issued on 8 December 2015. It also provides insight into what happens in this regard after the sale of a business to another institution. Briefly, the complaint involves the alleged failure of a financial services provider to provide short term cover to the […]

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