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Balancing the scales of justice is often a tricky job. When we read the reports and cases coming out of the offices of the Ombud, we often see insurers and brokers getting dragged over the coals for what the relevant Ombud deems poor advice on the part of the broker, or negligent activities on the part of insurers.
Fraud is regarded as one of the biggest risks that the insurance industry faces. This is troubling for insurers and for brokers who do their level best to preserve the integrity and profitability of the industry.
As most South African insurers and brokers look for new growth areas, the inevitable is finally happening, the Great Trek into the Rest of Africa is in full swing.
So, what is a once off event? “Oh, the Springboks beating the All Blacks in Auckland” one of my colleagues replied.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?