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Do fraudulent syndicates and clients use insurance companies as cash cows, particularly during times of economic decline? Do insurance brokers and insurers take enough time to focus on claims, ensuring that they are authentic and not inflated?
Measuring insurance fraud is an elusive target. Insurance fraud data thus far is relatively piecemeal, making our understanding of insurance fraud an ongoing work in progress. Insurance companies each gather fraud data in their own way, and data sharing is only now coming to the fore with efforts from the South African Insurance Crime Bureau (SAICB).
The Financial Services Law General Amendment Act (FSLGAA) has brought about some amendments to the Pension Funds Act 24 of 1956 (PFA), and this article looks briefly at the amendments that specifically affect beneficiary funds.
The 2014/2015 budget speech delivered by the Minister of Finance, Pravin Gordhan, has outlined key areas where government and the financial services industry can boost household savings for retirement and encourage retirement industry reform, particularly by increasing net retirement investment by reducing associated costs.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?