Compliance - Regulatory

Wording of exclusion; more than one interpretation

Research shows that whilst organisations are often aware of the costs of client misunderstandings, only one in three claim to have taken any action to close the gap.

A lawyer talks accounting: International Financial Reporting Standards (IFRS) 17 insurance contracts

The global set of accounting standards known as International Financial Reporting Standards (IFRS) is broadly used and supported in multiple jurisdictions by various organisations such as the International Monetary Fund, the World Bank and the JSE Limited to mention but a few. Section 29(5)(b) of the Companies Act, No 71 of 2008 (Act) specifically prescribes that public companies must adopt IFRS, which places all insurance companies within the ambit of this section.

Twin Peaks signed into law

Don’t let criminals steal your funeral cover

Funeral insurance products are meant to pay out quickly and without hassle when you or an insured family member dies. However, unless you bought a legal funeral policy issued by a life insurance company registered with the Financial Services Board (FSB), you have no guarantee that your funeral policy will pay out.