New Joint Standard to regulate insurers’ ‘material’ outsourcing activities
The standard, which replaces GOI 5, governs outsourcing by insurers from a prudential and a conduct perspective.
The standard, which replaces GOI 5, governs outsourcing by insurers from a prudential and a conduct perspective.
Banks and insurers are expected to treat climate risk as a financial risk rather than merely a reputational risk event.
The requirements for advice fees in the context of insurance policies will be dealt with by amending the insurance regulations.
To assist the Financial Sector Conduct Authority (FSCA) in obtaining better insights into the current processes and practices used to market and sell add-on insurance policies at motor dealerships to customers, the FSCA […]
South African insurers have struggled to keep up with increased customer demands during the Covid-19 crisis. This was one of the take outs of an assessment of the South African insurance industry by […]
About 70% of the approximately 12 million cars on South Africa’s roads are not insured. Insurers have therefore welcomed the government’s proposal, announced in the recent Budget speech, to make third-party insurance compulsory for […]
The FSCA has just released the FSRA Exemption Notice 1 of 2019 (LTIA). According to the notice an insurer that offers assistance policies, funeral policies or micro-insurance policies is exempted, in terms of […]
KPMG recently posed the following question: “What can insurers do to improve the way they assess and manage the short and longer-term impacts of climate change?” The World Economic Forum’s Global Risks Perceptions […]