Insurance Ombudsman

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Ombud stats lay bare complex insurance sector

04 July 2024

It was business as usual for two of South Africa’s financial services ombud schemes as they updated journalists on their 2023 statistics shortly after their assimilation into the country’s National Financial Ombud Scheme South Africa (NFOSA). The Ombudsman for Long-term Insurance (OLTI) and Ombudsman for Short-term Insurance (OSTI) were recently merged into NFOSA alongside the Ombudsman for Banking Services and Credit Ombud.

Complainants get R386-milllion back in insurance payouts

26 June 2024

The Ombudsman for Long-term Insurance (OLTI) and the Ombudsman for Short-term Insurance (OSTI) have published their last joint annual report for 2023, as they have now been incorporated into the National Financial Ombud Scheme South Africa (NFO).

Five insurance determination smackdowns

04 July 2023

The third joint Annual Report of the Ombudsman for Long-term Insurance (OLTI) and Ombudsman for Short-term Insurance (OSTI) included five insurance complaint ‘smackdowns’ against the country’s life insurers, and one against the short-term players. If you want detailed accounts of these determinations, you will have to trawl through the 100-page Insurance Ombudsman 2022 Annual Report. Alternatively, a quick-and-easy overview follows in today’s newsletter.

Insurance Ombudsman could go 2x on recoveries from 2024?

20 June 2023

The ongoing consolidation of financial services ombudsman schemes came up for discussion during the media launch of the third combined Annual Report for the Ombudsman for Long-Term Insurance (OLTI) and Ombudsman for Short-term Insurance (OSTI). Outgoing Long-term ombudsman, Judge Ron McLaren, introduced proceedings in the context of the report theme, ‘shaping our tomorrow’.

quick poll

Question

Discovery’s 2024 data highlights suicide and motor vehicle accidents as leading causes of unnatural death claims. Which of these insurance planning priorities do you find most relevant in practice?

Answer

Choosing best-in-market product Cover from an early age Structuring risk-appropriate cover Supporting clients’ mental wellbeing

View the Results

Two case studies to drive by

14 June 2023

Insurance Ombuds are future fit to tackle post-Covid era

23 May 2023

Your clients get another layer of protection

20 July 2021

Declined claims the biggest cause of complaints

25 May 2021

A new gateway for insurance complaints

03 February 2020