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Tag Archives | Long term Ombud

Report

Long-term Ombud Annual Report 2015

The office of the Ombudsman for Long-term Insurance (OLTI) needs to be commended for the quality and simplicity of its 2015 annual report. Below are some interesting extracts from the report. General overview In last year’s Annual Report it was pointed out that, despite the continued existence of the trends which could have been responsible […]

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When does cover commence?

The latest newsletter from the Long-term Ombud contains two cases where claims were repudiated as a result of a health condition manifesting between the date of application and acceptance of the risk. Non-disclosure The application was signed on 26 August 2012. A provision in the application form states: “You confirm you have given relevant, complete […]

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Client Care – how are we really doing?

Two conflicting headlines in recent industry newsletters raise the question whether clients are treated fairly by the industry. “Complaints to (Long-term) ombudsman reach record number.” “South African consumers are very satisfied with the insurance industry.” Closer scrutiny reveals that the first was based on the Long-term Ombud’s annual results for 2013, while the other finding […]

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FSB Reaction to Excessive Charges on Endowments

Last year, we published an article titled Charges in Respect of Investment Policies. I referred the matter to the FSB for comment, particularly in view of the following opinions expressed by the Long-term Ombud: The question does arise why anyone would purchase this policy. The converse question is why any insurer would develop and sell […]

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