A clear case of an ambiguous policy wording?
The policy’s terms and conditions, read together with the schedule, did not make it clear that a tracking device was a requirement for theft/hijacking cover.
Tag: Policy wording
ConCourt judgment in Capitec vs SARS clarifies important VAT principles
The decision addresses the recovery of VAT on payments made under loan cover provided free of charge.
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Ambiguous wording results in dispute over funeral claims
Poorly worded policies don’t only result in disputes over multi-million-rand commercial claims. The Ombudsman for Long-term Insurance (Olti) last year dealt with a number of complaints about rejected or limited funeral benefit claims […]
Short-term policyholder concerns, then and now
Events over the past year, both locally and internationally, have shifted the focus on a number of material terms and conditions in policy documents. Pre- and post-Covid A media release published in November […]
The case for simplifying policy wording
You, as an adviser, are legally required to explain all material clauses in a policy to enable your client to make an informed decision. What happens if some clauses are so clouded in […]
The case for simplifying policy wording
You, as an adviser, are legally required to explain all material clauses in a policy to enable your client to make an informed decision. What happens if some clauses are so clouded in […]
Keep it up close and personal
Failure to disclose material terms and conditions has been the downfall of many an adviser when a complaint is laid with the FAIS Ombud. Admittedly, 20/20 vision is only possible in hindsight as […]
Keep it up close and personal
Failure to disclose material terms and conditions has been the downfall of many an adviser when a complaint is laid with the FAIS Ombud. Admittedly, 20/20 vision is only possible in hindsight as […]
Consequential loss – OSTI case study highlights importance of policy wording
“Consequential loss” has always been a grey area in the short-term insurance industry. The South African Insurance Association (SAIA) defines “consequential loss” as “a loss not directly caused by the insured event, but […]
Consequential loss – OSTI case study highlights importance of policy wording
“Consequential loss” has always been a grey area in the short-term insurance industry. The South African Insurance Association (SAIA) defines “consequential loss” as “a loss not directly caused by the insured event, but […]
Updating of Policy Wording
A noteworthy comment from the SAIA September newsletter: The Short-term Ombud indicated that Insurers’ policy wording and claims philosophies are not updated and aligned to changes in technology and criminal behaviour. For example, […]
