Momentum Metropolitan Holdings (MMH) and Sanlam are the only major life insurers in South Africa to have grown the value of their new business relative to pre-Covid levels, according to PwC. PwC based […]
As we reported last week, National Treasury has revised some of the levies that FSPs will have to pay to the FSCA in terms of the Financial Sector and Deposit Insurance Levies Bill. […]
The Financial Services Tribunal (FST) as upheld the FSCA’s decision to debar a life insurance representative who admitted that she submitted unauthorised policy applications but subsequently sought to qualify her admission. What is […]
The Ombudsman for Long-term Insurance (Olti) released its annual report for 2021 last week. Here are 10 key take-aways from the report: 1. R200m recovered for complainants The Olti recovered R200 689 324 […]
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 […]
The Financial Services Tribunal (FST) has upheld a determination by the Pension Funds Adjudicator that a security guard who lost the use of his right arm following a shooting did not qualify for […]
Only 259 of the new complaints registered by the Ombudsman for Short-term Insurance (Osti) last year were related to Covid-19. But settlements in Covid-related business interruption (BI) complaints accounted for 49.5% of the […]
The Ombudsman for Short-term Insurance (Osti) has once again flagged the increase in the number of complaints from consumers whose claims are rejected because insurers allege the driver failed to exercise reasonable precaution […]
The 10 days of unrest in KwaZulu-Natal and parts of Gauteng in July last year wiped out the South African Special Risk Insurance Association’s cumulative retained earnings of more than R8 billion, incoming […]
National Treasury has proposed lowering some of the levies that FSPs will pay to the FSCA in terms of the Financial Sector and Deposit Insurance Levies Bill, to reduce the impact on small […]
The Pretoria High Court has asked the Constitutional Court to confirm an order that will have significant implications for how assets are redistributed when couples who are married out of community get divorced. […]
First National Bank (FNB) was the only bank among the country’s “big five” banks that recorded a decrease in the number of cases opened against it by the Ombudsman for Banking Services (OBS) […]
The Board of Healthcare Funders (BHF), a representative association for medical schemes, has applied for an exemption from provisions of the Competition Act so that it can publish a scale of benefits after […]
Parliament’s Standing Committee on Finance has tasked National Treasury with producing a report on how the Financial Sector and Deposit Insurance Levies Bill will impact consumers and small entities. Read: FSPs face paying […]
The current CPD cycle ends on Tuesday, 31 May, and time is of the essence if you haven’t completed your CPD activities. Moonstone Business School of Excellence (MBSE) offers access to more than […]
The JSE is considering a range of measures to address the trend of delistings from the market, including simplifying the financial disclosure requirements. At the exchange’s 2022 annual general meeting last week, Chris […]
A decision by Profmed to terminate a membership retrospectively, on the grounds of material non-disclosure, went through all the Council for Medical Schemes’ appeal mechanisms and ended up in the Western Cape High […]
