Compliance - Regulatory

Infographic submission on 3 categories of regulatory responses in the South African Insurance Industry

Insurance Ombudsman determines non-advice policy is void

An insurer cannot hide behind the contention that a policy sold on a non-advice basis in the lower income market places the onus on the policyholder to be familiar with exclusions, the Ombudsman for Long-term Insurance Judge Ron McLaren said.

ASISA: Life insurers report a marked reduction in irregular claims for 2019

South African life insurers detected 2 837 fraudulent and dishonest claims to the value of R537.1 million last year.

A constant voice of ‘unfair treatment’

The Office of the Ombud for Financial Services Providers (FAIS Ombud) launched its Annual Report for the 2019/2020 Financial Year.