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Tag Archives | Ombud

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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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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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report

Long Term Ombud Annual Report – Guidance for industry and advisers on focus areas

“We received 11 915 written requests for assistance in 2019, which was an increase of 147 requests compared to the 11 768 in 2018,” Judge Ron McLaren, Ombudsman for Long-term Insurance notes in the recently released 2019 Annual Report. He highlighted the following: ● The percentage of cases resolved in favour of complainants increased from […]

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FSRA – Amendment of notice of commencemen of Ombud Council

The commencement dates of certain provisions under the Financial Sector Regulation Act has recently amended and as a result published in a Government Gazette. Some of these include: ● Chapter 14 (sections 175 to 217) that described the Ombud Council will have a commencement date 1 June 2020 ● The Financial Services Ombud Schemes Act, 2004 will […]

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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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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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