Why policyholders complained to the short-term ombudsman in 2023
‘Lack of maintenance or wear and tear’ gave rise to most of the disputes in several categories of insurance.
Industry News
Why policyholders complained to the short-term ombudsman in 2023
‘Lack of maintenance or wear and tear’ gave rise to most of the disputes in several categories of insurance.
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Short-term insurers with the most and the least complaints in 2023
The important statistic is the proportion of personal lines complaints relative to an insurer’s share of the total personal lines claims.
Forensic audit traces Classic Financial Services’ missing millions
The joint liquidators have auctioned Cobus Geldenhuis’s residence and taken control of all movable assets belonging to him and his ex-wife, Jackie.
No annual premium increases on our new life product, says Capitec
The bank promises a quick and easy application process and no 30-page documents containing complex jargon.
Steinhoff’s former chief financial officer appears in court
The retailer’s former head of legal, Stephanus Grobler, appeared in the dock with Ben la Grange.
SA-born trader gets probation and $1m fine for manipulating exchange rate
The sentence was influenced by the judge’s view that Morgan Stanley was familiar with the risks of the unregulated foreign exchange spot market.
Ransomware attack at National Health Laboratory Service
The automated digital system for sending laboratory reports to clinicians was disabled.
Bullish on gold
The price of gold has risen amid geopolitical tensions and buying by central banks, decoupling from traditional indicators such as TIPS and ETFs.
Classic Financial Services director and wife’s R66m gambling spree
The estates of the son and former wife of the director of Classic Financial Services have been sequestrated.
Discovery Health says Road Accident Fund is in breach of court order
In 2022, the High Court ruled that the fund could not withhold payments for past medical expenses covered by medical schemes.
Investigation calls into question the narratives used to support NHI
BHF-commissioned study identifies 11 assertions made about private healthcare and medical schemes that lack foundation.
FSCA to launch retirement fund education campaign
The FSCA encourages members of retirement funds to check whether their employer is in arrears with their contributions.
Critical illness: Momentum Life Insurance urges comprehensive coverage planning
Momentum’s 2023 statistics show that 57% of death benefit claims were due to cardiac and cancer events, yet less than 81% of these claimants had critical illness cover.
Master accepts R1.5bn in creditor claims in BHI Trust scam
The joint trustees’ attorneys are sending letters demanding repayment from creditors who received over R300m in preferential payments in the six months before sequestration.
Alexforbes: OUTvest lift-and-shift date set for 1 July
Chief executive Dawie de Villiers is optimistic about the group’s DFM partnerships, where the target is to write R2.5 billion in the first year.
Economists forecast a repo rate cut in November
The annual inflation rate remained unchanged at 5.2% in May, but it is still some way from the Reserve Bank’s target of 4.5%.
