What customers are saying online about SA’s major insurers
One short-term insurer bucks the overall negative trend when it comes to the claims-handling process.
Long Term Insurance
Why policyholders complained to the short-term ombudsman in 2023
‘Lack of maintenance or wear and tear’ gave rise to most of the disputes in several categories of insurance.
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Sanlam Umbrella Fund expects group risk premiums to fall over the next two years
What is a fair long-term profit margin on group risk business?
Shift in Discovery Life claims as Covid moves from pandemic to endemic
The reduction in Covid-19-related death claims in 2022 was offset by increasing morbidity trends.
Old Mutual’s gross written premiums up 19% in the first quarter
Life insurance sales down slightly as the group stops selling certain products in China.
Liberty: cancer displaces Covid as leading cause of claims
Statistics indicate a rise in income protection claims resulting from diagnoses for mental and behavioural disorders.
Conduit Capital selling life and health insurance business so it can stay afloat
Liquidation of Constantia Insurance Company has affected the group’s ancillary insurance businesses.
FSCA publishes amendments to the General Code of Conduct
The requirements for advice fees in the context of insurance policies will be dealt with by amending the insurance regulations.
Insurance gap increases only slightly, but not for a good reason
SA’s 14.3 million income-earners have enough life and disability insurance to cover only 45% of their total insurance needs.
How much more income-earners must spend to close the insurance gap
Alternatively, how much less households will have to spend following the loss of a breadwinner.
Under-insurance is greatest among those under 30
Yet younger income-earners will have to rely on insurance benefits for longer.
South Africans were R1.23 trillion poorer in the second quarter
An increase of R39 billion in the value of household debt and a decrease of R1.19 trillion in the value of household assets saw South Africans’ wealth (expressed in current prices) decrease by […]
Call for accountable institution amendments to exclude life insurers that provide risk policies
Outsurance Life has proposed that long-term insurers that provide risk products should be excluded as accountable institutions, saying the increased cost of compliance was not proportionate to the low risk these products posed […]
Long-term insurance statistics – Pay-outs again reflect the importance and value of what we do
Policyholders and beneficiaries received claims and benefit payments worth R522.7 billion from South African life insurers in 2020. According to the long-term insurance statistics released by the Association for Savings and Investment South […]
Long-term insurance statistics – Pay-outs again reflect the importance and value of what we do
Policyholders and beneficiaries received claims and benefit payments worth R522.7 billion from South African life insurers in 2020. According to the long-term insurance statistics released by the Association for Savings and Investment South […]
LT Ombud rules on fairness – Decision similar to controversial Momentum case
Funeral claim declined as life covered not recognised as family member A recent Long Term Insurance Ombudsman determination involved equity, fairness as well the spirit of Ubuntu. Background The complainant had taken out […]
Long-term Insurance Class of business Training
In terms of Board Notice 194 of 2017, class of business (CoB) training forms a compulsory part of the competence requirements for FSPs, Key Individuals and Representatives. Moonstone Business School of Excellence (MBSE) […]
