Where does commission end and chargeable advice begin?
Billy Seyffert, the chief operating officer of Moonstone Compliance, will share his insights on remuneration models in the insurance industry at the upcoming FPI convention.
Short-term Insurance Act
People’s expenses change in retirement. Shouldn’t their income too?
Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.
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Health insurance benefit increases for 2023 published
The annual benefit escalations for policies that fall under the Demarcation Regulations.
FSCA grants another extension for exemption on payment for collecting premiums
An independent intermediary must be authorised by the insurer to engage in ‘direct collection of premium’ activities.
Tribunal slashes penalties imposed on the Land Bank’s insurance companies
Prudential Authority fined them an effective R2.688m for contraventions of the Short-term Insurance Act and the Insurance Act.
Directors of Insure Group Managers take their debarments to the FST
Tribunal considers whether the insurers in some way gave their consent to IGM investing the premiums in illiquid assets.
Benefit increases for health insurance policies
National Treasury has published the benefit increases for health insurance policies that fall under the Long-term Insurance Act (LTIA) and Short-term Insurance Act (STIA) in terms of the Demarcation Regulations. The 2016 regulations […]
FSCA to exempt non-life brokers from clawbacks when a policy is voided because of non-disclosure
The FSCA has proposed amending the Short-term Insurance Act regulations to exempt independent intermediaries from commission clawbacks when a policy is voided because of material misrepresentation or non-disclosure by the policyholder. Regulation 5.4 […]
