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How to crack the “Policy Wordings” code

01 October 2012 | Short Term

Over the past few years the local insurance industry has spent much time pondering the more consumer-friendly American-styled policy wordings. These wordings have long done away with the legalese associated with the industry. Is this language simple enough for the legislators?

Directive 159: The full impact of Directive 159 will only be known over time!

01 October 2012 | Short Term

On 12 April 2012, the Financial Services Board (FSB) issued Directive 159 to deal with all outsourced insurance business to a third party, both with respect to the Short Term and Long Term Insurance Acts. As is often the case the Directive creates as many issues as it seeks to address.

The battle lines are drawn in the fight against insurance fraud

01 October 2012 | Short Term

Many South African insurers and underwriters believe that insurance fraud is under control. They reckon that few – if any – of their staff or the clients, intermediaries and service providers that they interact with are involved in perpetrating fraud. This view could not be further from the truth

Leap-frog the competition with smart credit risk strategies

01 October 2012 | Short Term

As new entrants flood the short-term insurance industry insurers are looking for any tool that gives them an edge in setting competitive premiums… The reward for smart underwriting and sensible risk rating is the ability to offer responsibly priced covers at significantly lower prices than the competition.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

View the Results

Pause, reflect – CELEBRATE – and prepare to engage further

01 October 2012 | Short Term

Getting to grips with the new ASISA fund classification

01 October 2012 | Investments

What makes you special?

01 October 2012 | Practice Management

Your DOFA is more important than you realise!

01 October 2012 | Regulatory

What are a representative’s rights on debarment?

01 October 2012 | Regulatory

Tough questions loom as industry tackles “game changing” TCF

01 October 2012 | Regulatory

Understanding the (rising) cost of retirement

01 October 2012 | Life

Pension Fund Trustees serve a vital function

01 October 2012 | Life

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Magazine Archives FAnews & FAnuus

How to crack the “Policy Wordings” code

Directive 159: The full impact of Directive 159 will only be known over time!

The battle lines are drawn in the fight against insurance fraud

Leap-frog the competition with smart credit risk strategies

Pause, reflect – CELEBRATE – and prepare to engage further

Getting to grips with the new ASISA fund classification

What makes you special?

Your DOFA is more important than you realise!

What are a representative’s rights on debarment?

Tough questions loom as industry tackles “game changing” TCF

Understanding the (rising) cost of retirement

Pension Fund Trustees serve a vital function