On 22 March 2019, the FAIS Ombud established a Client Care Centre. According to the FAIS Ombud, the Client Care Centre will ensure that the Ombud’s office is able to not only efficiently deal with incoming calls related to existing complaints and enquiries, but to continue to effectively register complaints received. The complaints received will […]
Although a dread disease claim under a group risk policy was declined as the claim for the same condition was paid by a previous underwriter, the Ombudsman for Long-Term Insurance recently ordered Alexander Forbes to pay a life assured for dread disease after the client had been diagnosed with cancer a second time. About the […]
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 […]
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 […]
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 […]
This question will be answered on 30 November, when the J C Mostert / L Landman appeal against a determination by the FAIS Ombud Appeal is heard by the FSB Appeal Board. We believe that the essence of the appeal will be against the decision by the Ombud to rule on the complaint, despite the fact […]
The Groenewald determination, which just came to hand, indicates a more democratic approach by the Ombud. In the past, a determination was made, signed, sealed and delivered. This case saw the Ombud make a recommendation to the respondent, with a deadline to respond to certain questions. On receipt of the response, a final determination was […]
Reviews of decisions by the Registrar and the FAIS Ombud tend to take a slightly more formal and legalistic approach. In the case of the FSB, particularly, it also provides insight into cases that are not published, as is the case with those of the Ombud. Jessie Tsusi and the Registrar The appellant approached the […]
In June we reported on three new cases to be heard by the FSB Appeal Board. One of these concerned a complaint that was dismissed by the Ombud but the client, an advocate, appealed to the Board against the Ombud’s finding. Background The claim was rejected because the vehicle, which was written off in an […]
This case reminds me of a Dennis the Menace cartoon where he walks up to his dad and says: “Pick a card – any card.” Dad picks a card and Dennis says: “No, not that card.” It is amazing how two Ombuds can have such divergent views on the same matter. We have often in […]
