Medical scheme placed under statutory management as reserves plummet
The deterioration in Sizwe Hosmed’s reserves is attributed to ‘benefit under-pricing and historically unreliable budgetary and forecasting processes’.
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Still need to write the RE in 2020? – There is very little time and opportunity left
Failure to complete the compulsory Regulatory Exams by the due date means that you are no longer fit and proper. Your employer has no option but to terminate your employment, either by removing […]
The pros and cons of AI
As South Africa emerges from what is proving to be one of the most stringent of lockdowns globally, advisers are faced with a number of challenges. Technology changes and a contracting economy add […]
The pros and cons of AI
As South Africa emerges from what is proving to be one of the most stringent of lockdowns globally, advisers are faced with a number of challenges. Technology changes and a contracting economy add […]
Class of Business Training – What if you do not comply on 15 December?
As a result of the impact of COVID-19 on the financial services industry, several relaxations to regulatory and filing deadlines considering the challenges that regulated entities may face in these trying times, were […]
Missed a premium payment? – Here is what you and your client should know
In the wake of the pandemic lockdown, many short-term policyholders find themselves in a financial predicament and unable to pay their insurance premiums. The latest Short-term Ombudsman (OSTI) Briefcase discusses various options available […]
Consumer credit market – Q2 2020 shows Lockdown impact on industry
The findings of the TransUnion Industry Insights Report, which looks at the South African credit market across three dimensions among credit products, originations, balances and delinquencies, confirm that consumers are having to prioritise […]
Policy wording at claims time – OSTI case studies showcase importance
The importance of policy wording was underlined again in the UK’s comprehensive High Court analysis of 21 samples in coverage extensions for business-interruption COVID-19 related losses recently. At times the hearing sounded more a […]
Old King Causal – or should that be King Midas?
When I started researching the background for this article, the words of Bruce Springsteen’s “The ghost of Tom Joad” came to mind: Well, the highway is alive tonight But nobody’s kiddin’ nobody about […]
To be (dishonest), or not to be?
Two recent tribunal cases make for quite interesting reading. No dishonest intent In the Mokotedi decision, the employer, a major bank, debarred a financial adviser on the grounds that he lacked the required […]
Investments – How to be a financially resilient investor
The COVID-19 pandemic and the subsequent market volatility has spotlighted the need for financial resilience among investors. “To be a successful investor, you need to understand what you are getting yourself into upfront, […]
More than one income? – Do not underestimate your tax liability
South African taxpayers with different sources of income are often shocked when they discover at the end of the tax year that pay-as-you-earn (PAYE) deductions did not cover their tax liabilities and that […]
Digital distractions – the new fatal attraction?
Technology has become the most important communication tool for us all and has transformed the way in which live our daily lives, including the way in which we find, consume and retain information. […]
COFI a step closer to reality – Latest draft bill published for comment
One of our colleagues, Paull Lawrence, pointed out that yesterday was the 16th birthday of the implementation of the FAIS Act. It also marked the publication of the second draft of the COFI […]
CMS Quarterly report – Key trends prior to Covid-19 lockdown
The Council for Medical Schemes (CMS) has just published its quarterly report for the period ended 31 March 2020. Tasked with monitoring the financial performance and soundness of medical schemes, the CMS publishes comparative figures […]
Medical Scheme 2021 increases – How will it impact the pockets of South Africans?
October is the month when most medical schemes announce their updated rates for 2021.Will it be in line with the Council for Medical Schemes’ recommendation? In August 2020, the Council for Medical Schemes […]
