SIU investigation to uncover irregular claims from 2021 unrest
SASRIA says the proclamation issued by President Ramaphosa follows its request for assistance from the Special Investigating Unit.
SASRIA says the proclamation issued by President Ramaphosa follows its request for assistance from the Special Investigating Unit.
Insurance advertising often addresses personal experiences of loss and hardship, so they are likely to trigger strong emotional responses, the Board says.
The Ombud failed to investigate key facts around the broker’s alleged negligence in communicating an essential policy requirement.
The court ruled that MiWay’s expert analysis relied too heavily on assumptions, while overlooking the driver’s account that he swerved to avoid a dog.
Non-life insurers bounced back from a loss of R16.7bn in 2022 to a profit of R13.7bn in 2023, while life insurers posted significant profit growth, says KPMG.
Sasria’s five-year strategic plan includes the reintroduction of R1bn excess of loss cover and expanding its coverage for events such as natural disasters.
Thoroughly reading and understanding insurance policies and exclusion clauses benefits both parties, leading to fairer and more equitable outcomes for everyone involved.
Insurers need to employ advanced data analytics and AI to better price and manage these risks, as well as adjust premiums and make selective coverage decisions.