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No cover for botched real estate deal (USA)

10 May 2017 | General

Where an insurance policy covered an estate agent for acts committed solely ‘in the performance of services as a real estate agent/broker of non-owned properties, for others for a fee’, the Utah Supreme Court denied coverage for an estate agent’s botched deal in which the agent persuaded a company to make an investment in a failed new real estate project.

Homeowners’ policy does not cover insured as fitness instructor (US)

04 May 2017 | General

An Arizona appeals court has ruled that a claim by a woman who had a stroke during a fitness-club workout is not covered by the instructor’s homeowners’ insurance policy because the business exemption applied.

Digitizing the insurance value chain

02 May 2017 | General

If you are interested in using hi-tech to get your insurance or other financial services business to the front of the curve, you should read this.

Laws amendment to accommodate demarcation regulations

25 April 2017 | General

The pending changes to the Medical Schemes Act and the Long-term and Short-term Insurance Acts to accommodate the demarcation regulations were made on 1 April 2017 including the new definition of ‘business of a medical scheme’.

quick poll

Question

What do you believe will be the biggest challenge when the COFI framework is finally implemented?

Answer

The cost and complexity of relicensing Demonstrating customer outcomes through data and reporting Embedding a customer-first culture across the business Aligning existing compliance frameworks with COFI requirements

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