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Validity of lapsing of a policy – When does repudiation apply?

An insurer’s obligations concerning the lapsing of a policy was recently the subject of an investigation by the Long-term Ombud, following the repudiation of a claim. “Repudiation involves disputing the validity of a contract and refusing to honour its terms. Repudiation is therefore conduct which shows the clear and explicit intention of the party concerned […]

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Unclaimed policy benefits – ASISA members using tracing activities to honour claims

ASISA’s members united policyholders, beneficiaries, investors & heirs with unclaimed assets of R8.1bn last year. According to a recent ASISA news release, unclaimed assets of R17.1bn remain, but members will honour claims no matter how long it takes for the legal owners to come forward. Rosemary Lightbody, the senior policy adviser at ASISA, says despite […]

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