Monday briefing: a round-up of recent financial services news
Ruling on written-off car | Grid failure exclusions | Residential solar CoC | Coronation judgment implications | Grey-listing risk
King Price
King Price ordered to pay claimant the amount he owed for his vehicle
The High Court in Pretoria has upheld a Regional Court order that King Price must pay a claimant the amount he owed the bank for his vehicle, which was written off after an […]
Debarments: tribunal clears up ‘confusion’ about filing an application while legal proceedings are still pending
A decision by the Financial Services Tribunal (FST) last month should clear up any potential confusion over whether a reconsideration application can be brought by a representative who is still embroiled in litigation […]
High Court judgment ‘is a caution to insureds who seek to obstruct an insurer’s access to information’
In what is a rare win for an insurer in recent times, the Gauteng High Court’s judgment in Musa v King Price Insurance Co on 9 May highlights the importance of insureds abiding […]
KPMG survey reveals impact of recession and pandemic on short-term insurance industry
South Africa’s short-term insurance sector experienced a 28% fall in profit after tax (PAT) last year, from R8.3 billion in 2019 to R6bn, largely because of defaults on credit, an increase in net […]
