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.
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.
The Ombud Council also provides an update on the status of the new FAIS Ombud rules.
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.
The complaint arose because the policyholders were under the impression the new policy had retroactive cover.
The Ombud was unable to help a complainant who lost most of the R725 000 he invested over several months.