Views ‘on-the-road-costs’ as not being in line with prescriptions On 3 August, we published an article on the National Credit Regulator’s (NCR) media statement, warning vehicle financiers (being registered credit providers) that they […]
We receive many enquiries from readers about debarments, like this one last week: The reason why I was debarred was that I helped a customer with a loan application over the phone. I […]
The new Fit and Proper (F&P) requirements due for publication any day now contains reference to a new concept which aims to address a thorny issue, namely the different levels of complexity of […]
The SuiteBox client engagement and support tool delivers video meeting and digital signing capabilities to financial advisers. Rapid advances in fintech provide a host of solutions that streamline the delivery of financial advice, […]
The FSB published the following information on draft documents for comment in its FAIS Newsletter 24. Conduct of Business Returns (CoBR) The draft FAIS CoBR was published for comment on 6 December 2016. Comments were received from […]
A case study recently published by the Short-term Ombudsman reiterates the basic principle that short-term insurance is a contract entered into in good faith and that there was no obligation on an insurer […]
At the launch of the 2016 Annual Report from the Short-term Ombud, she elected to deviate slightly from the usual statistical analysis to highlight some interesting trends from the report with particular reference […]
The good news is that the Regulator now understands that not all replacements are bad. One must question the rationale behind making the receiving insurer accountable for assessing whether a replacement is justified […]
For most of us, the advent of technology in the industry is a bit like the famous saying back in the bad old army days: Hurry up and wait. A recent article in […]
The Regulator held a media briefing on 20 September to bring the media up to speed on developments in her department. Regulations Draft Regulations were published for public comments on the 8 September 2017 with a […]
The ceremony at which Jack Nicholson received his Oscar for “As good as it gets” was the same one where “Titanic” dominated all the categories. Nicolson, with that wicked smile of his, opened […]
A recent article by Patrick Cairns in Moneyweb provides an interesting perspective on the role of technology in the ever increasing challenge that compliance is becoming. The advent of Twin Peaks means that […]
A noteworthy comment from the SAIA September newsletter: The Short-term Ombud indicated that Insurers’ policy wording and claims philosophies are not updated and aligned to changes in technology and criminal behaviour. For example, […]
The SAIA published a list of standardised terminology on the SAIA website. The terms were identified by the SAIA Treating Customers Fairly workgroup on Standardised Terminology. The aim of the list is to […]
Last week, we reported on the Phoshera judgment by the FSB Appeal Board where it concurred with the view of the FAIS Ombud that the rejection of a claim was warranted on the […]
“Catch-22 is any paradoxical, circular reasoning that catches its victim in its illogic and serves those who have made the law.” One of the options in the Merriam-Webster dictionary reads: “A situation presenting […]
ASISA reports that, despite strong economic headwinds, South African life insurers honoured claims by policyholders and beneficiaries worth R458 billion in the year ended 30 June 2017. This represents a 9% increase in benefits paid, compared […]
