Health insurance benefit increases for 2025 published
The annual benefit escalations for policies that fall under the Demarcation Regulations.
#ShorttermInsuranceAct
Judgment clarifies approval of director appointments under the Insurance Act
The High Court confirms a Tribunal decision that the appointment of directors of insurance companies can be regularised retrospectively. It underscores that section 14 of the Insurance Act does not require the Prudential Authority’s pre-approval.
Court backs FST’s decision to scale down penalty for insurance breach
The judgment confirms that the Tribunal acted within its authority when it reduced a penalty imposed by the Prudential Authority on two state-owned insurers.
Increase in penalty for late insurance returns
The FSCA has raised the maximum daily penalty for late submissions under insurance legislation by 4.39%.
Removal firm fined for offering insurance without authorisation
The FSCA fines Kings International Removers R1.1 million and debars its owner for eight years.
Battle between PA and insurers: court clarifies regulatory powers
The High Court confirms the Prudential Authority’s right to challenge Tribunal decisions while affirming the limits of retrospective penalties.
Health insurance benefit increases for 2024 published
The annual benefit escalations for policies that fall under the Demarcation Regulations.
An insurer is not a supplier under the Consumer Protection Act
When seeking compensation from an insurer because of alleged third-party negligence, the best course of action is to pursue the matter in court, the National Consumer Tribunal says.
Increase in penalty for non-submission of insurance returns
The penalty is R8 215 a day, in terms of the Long-term Insurance Act or the Short-term Insurance Act.
Certain intermediaries can continue to provide premium collection services
Independent intermediaries must adhere to the conditions if they want to rely on the exemptions from the regulations under the Short-term and Long-term Insurance Acts.
