Compliance - Regulatory

Non-compliance by insureds

We summed up some case studies from the Ombudsman for Short Term Insurance’s (OSTI) briefcase, which we thought would be interesting for our readers. In one of the cases it is clear that non-disclosure is still a very serious thing.

FSCA warns the public against an individual purporting to be associated with Stanlib

The Financial Sector Conduct Authority (FSCA) would like to warn the public not to deal with an individual operating on WhatsApp purporting to be Mr Keillen Ndlovu . Mr. Ndlovu is the Head of Listing Property, Stanlib, which is an authorised Financial Services Provider (FSP No. 590).

FSCA warns the public against fraudulent online activity

Policyholders urged to apply for premium relief rather than allowing debit orders to bounce

The Association for Savings and Investment South Africa (ASISA) is urging policyholders unable to pay their monthly long-term insurance premiums to contact their life insurers to explore possible options for premium relief rather than allowing their debit orders to bounce or disputing the debit order.