Tag Archives | Ombud

Short Term Insurance Ombud – Insight into how it operates

Business Day TV’s “You & Your Money” recently interviewed Edite Teixeira-Mckinon, the Deputy Ombudsman for Short-Term Insurance. Teixeira-Mckinon joined Bryan Hirsch, personal financial planner and author, to discuss the operations of the Short-Term Ombudsman’s office. In the interview Teixeira-Mckinon chats about the proposed amalgamation of the Short- and Long-term Insurance Ombuds’s offices, the upward trend […]

Continue Reading

Long Term Ombud Annual Report – Cases resolved in favour of complainants increased

“We received 11 768 written requests for assistance, including 5 978 chargeable complaints. In total, 3 367 cases were finalised, of which 31.5% were resolved wholly or partially in favour of complainants”, Judge Ron McLaren, Ombudsman for Long Term Insurance shares in the just-released 2018 Annual Report. He highlighted the following:  91% of complaints were […]

Continue Reading

Short-term Ombud Annual Report – What are the trends of the complaints received?

The Ombud for Short Term Insurance’s mission is to resolve short term insurance complaints fairly, efficiently and impartially. How did they perform in 2018? How many complaints were received? The Ombudsman just released its Annual Report that provides, amongst other information, statistical data and operational results for 2018. According to Haroon Y Laher, Chairman of […]

Continue Reading

Appeal Board decision on Ombud Procedural Obligations

The respondent, Mrs Landman, is a 65 year old widow and pensioner who invested the proceeds of her late husband’s life savings/pension of R650 000 on 6 May 2006 in the Sharemax Zambezi Retail Park Holdings Ltd on the advice of the appellant, J C Mostert. The appeal turned on two material issues namely: That the Ombud is […]

Continue Reading

Ombud Council to Oversee Various Ombud Schemes

The Financial Sector Regulation (FSR) Act was signed by the President in August 2017. The National Treasury announced that it will be publishing a series of consultation documents, setting out in more detail the work being undertaken for each component of the Act. The first of these is a consultation policy document published in September titled […]

Continue Reading

Case studies from the Short-term Ombud

The October edition of the OSTI Briefcase contains some interesting insights on two complaints, in particular. Promissary warranty The issue for determination in this matter was whether the insurer was entitled to reject a claim for the loss of a tennis bracelet, worth nearly R120 000, on any one of the following four grounds set out […]

Continue Reading