To be (dishonest), or not to be?
Two recent tribunal cases make for quite interesting reading. No dishonest intent In the Mokotedi decision, the employer, a major bank, debarred a financial adviser on the grounds that he lacked the required […]
Policies
SARS pays back R10bn, but some taxpayers’ refunds are being withheld
Taxpayers should inform SARS if they have been unemployed for a full year or longer, to avoid being flagged as non-compliant.
Read more
Universal life policies – Who’s to bless and who’s to blame?
The problems concerning these policies, as recently highlighted by the LT Ombud, concern at least the last five of the six “Treating Customers Fairly” (TCF) buttons: ● Products & services marketed and sold […]
Universal life policies – Who’s to bless and who’s to blame?
The problems concerning these policies, as recently highlighted by the LT Ombud, concern at least the last five of the six “Treating Customers Fairly” (TCF) buttons: ● Products & services marketed and sold […]
Universal life policies – Are the chickens coming home to roost?
The office of the Long-term Ombud has raised an extremely concerning trend in the August edition of its quarterly newsletter, OMBUZZ. An investigation identified at least 68 complaints received since 2018 from policyholders, […]
Universal life policies – Are the chickens coming home to roost?
The office of the Long-term Ombud has raised an extremely concerning trend in the August edition of its quarterly newsletter, OMBUZZ. An investigation identified at least 68 complaints received since 2018 from policyholders, […]
Inclusion of smoothed bonus policies in default investment portfolio – Conduct standard tabled
“A new conduct standard on the conditions in terms of which smoothed bonus policies may form part of default investment portfolios was released on Tuesday evening and is scheduled to come into force […]
Inclusion of smoothed bonus policies in default investment portfolio – Conduct standard tabled
“A new conduct standard on the conditions in terms of which smoothed bonus policies may form part of default investment portfolios was released on Tuesday evening and is scheduled to come into force […]
Short term insurance policies – Five causes for invalidation
In a recent media release, the Office of the Ombudsman for Short-Term Insurance (OSTI) highlights some of the things consumers do which might result in the insurer cancelling cover or refusing to pay […]
"MyLawyer” Settles with Enforcement Committee
The FSB published details of a settlement reached with a company trading as “MyLawyer” (the respondent) who acknowledged that it had contravened section 7(1)(a) of the Short-term Insurance Act (STIA). From November 2011, […]
Information Letter on Benefit Amount Increase for Assistance Policies
Further to the recent increase in the maximum amount announced by the Minister of Finance, an information letter was published to provide guidance on the correct interpretation of the information. The change stems […]
