Momentum’s NHI cost estimate is ‘mathematical hooliganism’, says Health Minister

Aaron Motsoaledi wants to engage with people who are in favour of universal health coverage but have objections to the NHI Act.

Remorse and Forgiveness

Reviews of decisions by the Registrar and the FAIS Ombud tend to take a slightly more formal and legalistic approach. In the case of the FSB, particularly, it also provides insight into cases […]

The Council for Medical Schemes (CMS), regulator of the medical schemes industry, released its Annual Report for 2016-2017 on 5 October, providing a comprehensive report on the status of the private medical schemes industry […]

NCR smacks BMW

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 […]

Stick to the script

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 […]

Qualifications and Execution of Sales

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 future of financial advice in SA

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, […]

FSB Regulatory Updates

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 […]

In good faith

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 […]

Trends in Motor Insurance

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 Demise of Churning?

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 […]

New steps to curb Churning

The Retail Distribution Review (RDR) of 2014 contained several comments that expressed concern about the negative effects of “churning” which it described as “inappropriate or unnecessary replacement of policies driven by intermediary incentives”. […]