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Tag Archives | Ombud

short-term-insurance

Execution of sales or of policyholder rights?

The introduction of “execution of sales” as a method of making financial products accessible to the lower income section of the population may have arisen from noble intentions, but like the expression says, so is the road to hell. A recent ruling by Judge Ron McLaren, the Ombudsman for Long-term Insurance, highlighted the many pitfalls […]

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lawssss

FAIS Ombud uncovers doubtful practice – Provider “misunderstands” its own policy wording

The Office of the FAIS Ombud often receives complaints related to alleged unfair rejection of claims. One of the latest deals with the calculation of a waiting period that may be imposed in a funeral policy. Unpacking funeral cover waiting periods When applying for a funeral policy, no medical underwriting is conducted by the insurer […]

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report-3

Banking Ombud reports increase in complexity of complaints – 2019 Annual Report

The Ombudsman for Banking Services (OBS) published its annual report, showing an increase in calls received, but a decrease in actual complaints registered. Although the statistics for 2019 demonstrate a decrease in complaints, the increased complexity of some of these complaints meant that they took much longer to resolve, the OBS Chairman, Advocate John Myburgh, […]

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report20199

FAIS Ombud Report – What are the emerging trends?

The Office of the FAIS Ombud (“OFO”) released its Annual Report for the year 2018/2019 last week, providing a review of its performance over this period. During the financial year the OFO received a total of 9323 new complaints. The report indicates that there was an increase in the number of complaints settled or resolved […]

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Insurances

Short- and long-term Ombud – One entry point for complaints from 2020

“As from January 1 2020, retired Judge Ron McLaren will be the single watchdog for both the short-term (non-life) and long-term (life) insurance industries,” BusinessLive reported yesterday. According to the article, the two ombud offices will continue to operate separately within their current defined jurisdictions, but with a single port of entry for complainants who […]

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regulations

New FAIS Ombud appointed – Adv Nonku Tshombe replaces Mr Naresh Tulsie

The Office of the FAIS Ombud announced last week that Advocate Tshombe assumed the role of new Ombud for Financial Services Providers effective 1 November 2019. She takes over from the previous Ombud, Mr Naresh Tulsie, who had served as the FAIS Ombud since May 2018. Click here to read more about Advocate Tshombe’s qualifications and experience. There […]

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Client-care

FAIS Ombud introduces Share Call Number option

During March 2019, the Office of the FAIS Ombud established a Client Care Centre to enhance the customer experience. The objective of the establishment of the Client Care Centre was to give life to some of their core values which include increasing awareness and educating those they serve about the services provided, so as to […]

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FIAS

Tribunal again rules against FAIS Ombud

Last Monday we published an article on the outcome of a FSCA Tribunal hearing with the following introduction: “The findings of a hearing by the FSCA Tribunal in the Van Zyl case heard on 25 June 2019 should result in serious introspection by the office of the FAIS Ombud.” “Whilst not directly addressing some of the grounds […]

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