The FAIS Ombud has warned that complaints about the rejection of homeowner’s insurance claims will be referred to the FSCA for investigation if she believes the disclosure at inception is wanting. This was […]
The General Code of Conduct was significantly amended in June 2020. This is particularly true of Section 17 which requires the establishment of a complaints management framework. Most of the new requirements had […]
The General Code of Conduct was significantly amended in June 2020. This is particularly true of Section 17 which requires the establishment of a complaints management framework. Most of the new requirements had […]
There are actually three certainties in this world: Death, taxes and major regulatory updates in December every year, as the industry starts winding down for the silly season. One of these is the […]
There are actually three certainties in this world: Death, taxes and major regulatory updates in December every year, as the industry starts winding down for the silly season. One of these is the […]
Client Confidentiality when transferring business A recent Moneyweb article highlighted the importance of treating client information with great circumspection. A product house included personal client information in court documentation in an urgent application. […]
Complaints handling is set to become a major measure of your commitment to the fair treatment of clients, or TCF as it has become known. The final proposals for implementation of changes to […]
The right to charge additional fees, and particularly “admin” fees, has long been a bone of contention, particularly in the short-term industry where it is particularly prevalent. The latest draft General Code of […]
Section 3A of the General Code of Conduct came into operation on 4 December 2014. It decreed that “… No person may offer or provide a sign-on bonus to any person, other than a new […]
An article in FAIS Newsletter 20 titled Bulk transfers by FSPs and Insurers contains a section under the sub-heading: Protection of Personal Information Act: Furthermore the FSPs are required to comply with Protection […]
Tony, a reader in Durban, was one of several people who responded to an article on this subject in the Moonstone Monitor of 24 July 2014: The issue of commission on orphan policies […]
What happens to the commission of intermediaries who resign, or whose contracts with product providers are cancelled? The latest FAIS Ombud newsletter contains an example which throws some light on the subject. Ombud […]
On Tuesday we discussed what happens when material changes occur in a client’s health between the time of applying for life cover and acceptance of the risk by the insurer. My colleague Julian […]
This topic is covered in FAIS Newsletter 16, published on 13 December 2013. It is of particular importance to FSPs who tend to think that complying with the FAIS Act and the General […]
