The fallacy that insurance commission is the root of all evil has led to numerous failed attempts to regulate it. Dr Brian Benfield, a retired professor from Wits’ Department of Economics, holds nothing […]
The FSCA says it will continue to ensure that insurers adopt “a fair and balanced approach” towards premium increases, while taking into account the valuable role the insurance industry has played in difficult […]
South African life insurers reported a 53% surge in death claims between 1 April and 30 September 2021 compared to the same period in pre-Covid 2019, according to statistics released by the Association […]
In September 2020 the cracks in the finances of 3Sixty Life, the life insurer wholly owned by the National Union of Metalworkers of SA (Numsa) through the Numsa Investment Company, started to show. […]
Consumers are justifiably concerned about the impact of Eskom’s demand for a 20% tariff increase, but there’s another factor that could contribute to rising inflation this year: significantly higher Sasria rates on commercial […]
Covid-19 has overtaken cancer, heart and artery disease as the primary cause of death among Discovery Life clients, according to the insurer’s claims data for 2020. Furthermore, deaths due to Covid-19 in the […]
Before the COVID-19 pandemic, the South African Short-Term Insurance market was on a strong growth trajectory, increasing by a solid 4.3% in insurance premium volumes, between 2018 and 2019. However, similar to the […]
2020 has been a tough year and many people are looking for ways to decrease their expenses. Many have considered it, and some have already cancelled their car insurance to ease the financial […]
Last week we commented on a request for public response to a “Technical Report on the Consumer Credit Insurance Market in South Africa”. One of the proposals concerns regulating the pricing of CCI. […]
The Long-term Ombud recently published two examples of excessive charges on endowment policies which confirmed the view that a revision of product provider costs is possibly a bigger problem than advisor fees. This […]
