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While the budget has long past, people will be looking back at it only now feeling the full impact of the announcements made by Pravin Gordhan at the end of February.
When moving a book of business, the different contractual relationships and the legalities around changing those contractual relationships or replacing those contractual relationships to give effect to the moving of a book of business should be considered.
National Treasury promulgated the Demarcation Regulations (DRs) governing medical gap cover, primary healthcare policies and hospital cash plans in January for implementation on 1 April 2017.
With the plethora of pro-consumer legislation being released for comment at the moment, one of the big debates in the short term industry boils down to this: with all the effort insurers have to go through to protect consumers, deal with consumer’s claims as fairly as possible and now even take consumer’s interests into account when determining premiums, is it possible for insurers to still make profits?
The strongest deterrent against FSP compliance missteps is or should be: