The applicant only became aware in May last year that the decision to debar her constituted administrative action.
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The Policyholder Protection Rules require insurers to ensure that policyholders are made aware of the existence of the time-limitation clause, as well as the implications thereof. This protects policyholders from being prejudiced by […]
Before the COVID-19 pandemic, the South African Short-Term Insurance market was on a strong growth trajectory, increasing by a solid 4.3% in insurance premium volumes, between 2018 and 2019. However, similar to the […]
Towards the end of last year we briefly reported that from 1 January 2020, retired Judge Ron McLaren will be the single watchdog for both the short-term (non-life) and long-term (life) insurance industries. In a […]
Towards the end of last year we briefly reported that from 1 January 2020, retired Judge Ron McLaren will be the single watchdog for both the short-term (non-life) and long-term (life) insurance industries. In a […]
In a recent Short-term insurance case study, the Ombudsman for Short Term Insurance (OSTI) emphasised that short-term insurance contracts are entered into in good faith. “Under common law, a policyholder when requesting cover […]
In a recent Short-term insurance case study, the Ombudsman for Short Term Insurance (OSTI) emphasised that short-term insurance contracts are entered into in good faith. “Under common law, a policyholder when requesting cover […]
“Short Term Insurance complaints remain the highest number of complaints received by this Office”. This is the view of Marc Alves of the FAIS Ombud’s office. In a recent FAIS Ombud newsletter he […]
Unless clients have elected to pay an additional premium for an excess-free policy, they will almost always pay an excess when they claim from their insurer- whether it’s their fault or not. The […]
Unless clients have elected to pay an additional premium for an excess-free policy, they will almost always pay an excess when they claim from their insurer- whether it’s their fault or not. The […]
The charging of fees in the Short-term space, and particularly the so-called “administration fee”, has always been a bone of contention in the industry. Many elected to simply follow the ostrich approach and […]
South African Short-term Insurance – what are the latest trends, drivers and challenges? A question that more than one research house asked and surveyed in the last few months. In today’s rapidly changing […]
The South African Insurance Association has compiled a list of questions and answers to provide guidance in respect of the impact of the change in VAT rate on short-term insurance transactions. Note from […]
In terms of Board Notice 194 of 2017, class of business (COB) training forms a compulsory part of the competence requirements for FSPs, Key Individuals and Representatives. The product categories that an FSP […]
The recent announcement of the change in the Value Added Tax rate from 14% to 15% effective 1 April 2018 did not leave much time for companies across different industries to amend their systems to […]
Using attention-grabbing adjectives in news headlines to describe life-changing events has been the preserve of news offices around the world for years. Over the course of the past few weeks, news reports have […]
In the financial services industry in South Africa, the only certainty is change. A number of regulatory changes with significant impact on the industry are in the pipeline. Moonstone Compliance is pleased to […]
