Sasria reintroduces wrap cover with reduced limit
After a near five-year absence following the 2021 unrest, Sasria relaunches its wrap cover as a R500 million excess layer above the standard coupon.
#nonlifeinsurance
From accident scene to insurance claim: a guide for motorists
Gathering the right information at the scene and reporting the accident correctly can prevent claim delays.
Santam authorised to establish IFSC reinsurance office in India
The licence allows the insurer to operate as an International Insurance Office within India’s financial hub.
Court raises bar for repudiation based on misrepresentation or non-compliance
Non-life insurers may repudiate claims for alleged misrepresentation or regulatory breaches only when they can produce clear, consistent, and reliable evidence.
Non-life insurers deliver strong performance in 2024 – KPMG survey
Disciplined underwriting, improved claims experience, and robust investment income helped non-life insurers to navigate structural headwinds.
Roadworthiness is essential for valid insurance claims, Ombud warns
While insurers can decline claims involving unroadworthy vehicles, repudiations must be linked to the cause of the loss.
New report maps insurance risk patterns, urges shift to proactive strategies
Standard Insurance’s five-year analysis discloses the main perils affecting businesses and households, and when and why policyholders are most likely to claim.
Five things vehicle owners should know about hijackings and theft
Vehicles fitted with multiple tracking devices are more likely to be recovered. If hijackers disable one tracker, the backup can still guide response teams to your car.
Non-life insurance ombud sees 11% drop in complaints in 2024
Most complaints to the NFO went to the Non-life Division, whose interventions yielded R107m in quantifiable benefits for policyholders.
Grace period doesn’t prevent insurers from rejecting a claim
Some insurers send SMS or email reminders, but it is the policyholder’s responsibility to ensure that an overdue premium is paid.
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.
Expired driving permit was not material to the loss, non-life ombud rules
The insurer argued the hijacked vehicle should not have been on the road because the driver’s PrDP had expired.
PPS takes its mutual insurance model to the broader SA market
It says the new business division, called glu, provide members with straightforward insurance solutions and profit-sharing.
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.
SIU investigation to uncover irregular claims from 2021 unrest
SASRIA says the proclamation issued by President Ramaphosa follows its request for assistance from the Special Investigating Unit.
Auto & General’s Knysna fires advert is not offensive, says ARB
Insurance advertising often addresses personal experiences of loss and hardship, so they are likely to trigger strong emotional responses, the Board says.
FAIS Ombud erred in dismissing complaint against insurance broker, says Tribunal
The Ombud failed to investigate key facts around the broker’s alleged negligence in communicating an essential policy requirement.
