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Incorrect information provided by a broker

21 November 2021

Every piece of information, specifically in policy wording, is critical in the insurance world.

Was the advice appropriate?

30 September 2021

In a recent determination by the Financial Advisory and Intermediary Services Ombudsman (FAIS Ombud), the complaint arises out of an investment made by the complainant, following advice of the respondent.

Settled Complaints

27 September 2021

The Office of the FAIS Ombud is committed to resolving complaints in a procedurally fair, informal, economical and expeditious manner, with reference to what is equitable in all circumstances. In this vein the Office of the FAIS Ombud always explores every available avenue to resolve a complaint between the parties on an informal basis without the need to formally resolve the matter by way of a determination.

Brokers stumble at the usual hurdles

19 January 2021

A close assessment of the FAIS Ombud Annual Report 2019/20 confirms that segments of South Africa’s financial advice community have learned little over the years. The report, which contains background information on a handful of informal settlements and formal FAIS Ombud determinations, highlights contraventions of the Financial Advisory and Intermediary Services (FAIS) Act and its accompanying Codes that have been tripping up advisers since the Act was promulgated. These shortcomings assisted the Office of the FAIS Ombud in recovering R57.263 million on behalf of consumers during the year.

quick poll

Question

Do you think short-term insurance broking will survive the AI plus humanoid robotics age?

Answer

Human first always Not a chance Possibly maybe Yes, but reimagined

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