FSCA proposes to align waiting periods for microinsurers and traditional insurers
The waiting period restriction in the Policyholder Protection Rules puts microinsurers at a competitive disadvantage, the Authority says.
Tag: Policyholder Protection Rules
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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When is it too late to submit a complaint to the Osti?
Ombudsman can only condone non-compliance with a policy’s time-barring provisions if the insured shows good cause.
How Numsa’s life insurer went insolvent
In September 2020 the cracks in the finances of 3Sixty Life, the life insurer wholly owned by the National Union of Metalworkers of SA (Numsa) through the Numsa Investment Company, started to show. […]
FSCA expectations regarding premium increases on funeral policies
The Financial Sector Conduct Authority (FSCA) has expressed its concern about high premium increases that are being implemented by insurers on funeral policies throughout the industry. While it is aware of the impact […]
Proposed changes to short-term Policyholder Protection Rules
In its Statement supporting proposed amendments to the policyholder protection rules, the FSCA suggested changes to the PPRs in general, as well as ones relevant to the Long-term and Short-term industries, specifically. This […]
Proposed changes to short-term Policyholder Protection Rules
In its Statement supporting proposed amendments to the policyholder protection rules, the FSCA suggested changes to the PPRs in general, as well as ones relevant to the Long-term and Short-term industries, specifically. This […]
Proposed Amendments to Policyholder Protection Rules
The FSB published proposed amendments to the Policyholder Protection Rules (“PPRs”) made under the Long-term Insurance Act, 1998 and the Short-term Insurance, 1998, respectively, for public comment. The proposed amendments form part of […]
Final Insurance Conduct Regulations and Policyholder Protection Rules
We have become used to the publication of important regulatory changes on and after 15 December each year, but 2017 set a new “record” which will be hard to beat. We will be sharing […]
