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Consumers who hold credit risk cover are responsible for paying the credit provider the contractual instalments whilst an insurance claim is being investigated.
In support of compliance and education, Insure Group Managers hosted a seminar, at the FNB Conference Centre in Sandton, to discuss the changing landscape of debit orders in South Africa.
Since the introduction of the Twin Peaks model of regulation, which is currently waiting to be promulgated, the industry is finally coming to terms with regulatory reform. One of the biggest steps in this process is asking how regulation will affect their business.
With the Twin Peaks model of regulation, the financial services industry has been ushered into an era of increased enforcement and accountability.
The strongest deterrent against FSP compliance missteps is or should be: