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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The Policyholder Protection Rules require insurers to ensure that policyholders are made aware of the existence of the time-limitation clause, as well as the implications thereof. This protects policyholders from being prejudiced by […]
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 […]
Towards the end of last year we briefly reported that from 1 January 2020, retired Judge Ron McLaren will be the single watchdog for both the short-term (non-life) and long-term (life) insurance industries. In a […]
Towards the end of last year we briefly reported that from 1 January 2020, retired Judge Ron McLaren will be the single watchdog for both the short-term (non-life) and long-term (life) insurance industries. In a […]
In a recent Short-term insurance case study, the Ombudsman for Short Term Insurance (OSTI) emphasised that short-term insurance contracts are entered into in good faith. “Under common law, a policyholder when requesting cover […]
In a recent Short-term insurance case study, the Ombudsman for Short Term Insurance (OSTI) emphasised that short-term insurance contracts are entered into in good faith. “Under common law, a policyholder when requesting cover […]
“Short Term Insurance complaints remain the highest number of complaints received by this Office”. This is the view of Marc Alves of the FAIS Ombud’s office. In a recent FAIS Ombud newsletter he […]
Unless clients have elected to pay an additional premium for an excess-free policy, they will almost always pay an excess when they claim from their insurer- whether it’s their fault or not. The […]
Unless clients have elected to pay an additional premium for an excess-free policy, they will almost always pay an excess when they claim from their insurer- whether it’s their fault or not. The […]
The charging of fees in the Short-term space, and particularly the so-called “administration fee”, has always been a bone of contention in the industry. Many elected to simply follow the ostrich approach and […]
South African Short-term Insurance – what are the latest trends, drivers and challenges? A question that more than one research house asked and surveyed in the last few months. In today’s rapidly changing […]
The South African Insurance Association has compiled a list of questions and answers to provide guidance in respect of the impact of the change in VAT rate on short-term insurance transactions. Note from […]
In terms of Board Notice 194 of 2017, class of business (COB) training forms a compulsory part of the competence requirements for FSPs, Key Individuals and Representatives. The product categories that an FSP […]
The recent announcement of the change in the Value Added Tax rate from 14% to 15% effective 1 April 2018 did not leave much time for companies across different industries to amend their systems to […]
Using attention-grabbing adjectives in news headlines to describe life-changing events has been the preserve of news offices around the world for years. Over the course of the past few weeks, news reports have […]
In the financial services industry in South Africa, the only certainty is change. A number of regulatory changes with significant impact on the industry are in the pipeline. Moonstone Compliance is pleased to […]
