Policyholder waiting for funeral policy payout after three years
The FAIS Ombud issues a determination after the FSP fails to follow through on its undertaking to settle the claim.
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Proposed amendment Bill aims to end funeral cover over-insurance
A review of the entire structure of the funeral class would be a better way to prevent over-selling, says Moonstone Compliance’s Paull Lawrence.
New implementation date for National Financial Ombud
The Ombud Council also provides an update on the status of the new FAIS Ombud rules.
Insurance brokers ordered to pay R300 000 after failing to disclose crucial policy requirement
Insurance brokers are much more than ‘a mere conduit or post-box’, as per the General Code of Conduct, their duties and responsibilities extend far beyond that, the FAIS Ombud says.
FAIS Ombud highlights FSPs’ obligations when a policy is replaced
The complaint arose because the policyholders were under the impression the new policy had retroactive cover.
Consumers must be aware of the high risks of online trading, says FAIS Ombud
The Ombud was unable to help a complainant who lost most of the R725 000 he invested over several months.
