Navigating insurance policies: how brokers can help prevent claim rejections
Tarina Vlok, MD of Elite Risk Acceptances, explains the importance of educating policyholders about their insurance coverage and exclusions.
#OmbudsmanforShorttermInsurance
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.
Short-term insurers with the most and the least complaints in 2023
The important statistic is the proportion of personal lines complaints relative to an insurer’s share of the total personal lines claims.
Key aspects of Treasury’s proposals to reform SA’s financial ombud system
The National Financial Ombud’s jurisdiction will be expanded in phases to include the activities of all regulated financial institutions.
New National Financial Ombud scheme launches
The previously separate credit, banking, and long-term and short-term insurance ombud schemes are now under one roof.
Existing financial ombud system is ‘too complex’ for consumers to navigate
There is a high degree of consensus over the reform recommendations put forward by the World Bank Group, says Treasury.
Ombuds will handle cases involving disputes of fact or law and award compensation
And the requirement to accept oral complaints applies to financial institutions, not only ombuds.
FSCA wants to know number of personal lines claims in 2023
The information will help the Authority to monitor the extent to which insurers are delivering fair outcomes for consumers.
Three cases focusing on the insured’s reporting obligations following a vehicle theft
In two cases, the Ombudsman for Short-term Insurance found the insurer should not have rejected the claims.
