One of the issues raised during Momentum Life’s 2022 claims report was that fewer clients are purchasing both mortality and morbidity cover. Why might this be?

Perhaps people do not understand the value of having critical illness cover (35.42%)

The preference, it seems, is for life cover only (12.5%)

Not sure, but for advisers, getting the right insurance cover in place is possibly the best thing they can do for their clients and their clients’ beneficiaries (52.08%)

With retirement reform legislation coming into effect on 1 March 2024…

The timeframe is insufficient, it may result in a number of funds not being compliant on time (12.12%)

The timeline is challenging but achievable (3.03%)

The industry should focus on developing the necessary infrastructure to implement the new laws (15.15%)

Industry players should engage in open and consistent communication with their members, explaining the changes and their impact in a simple, understandable manner (69.7%)

Insurance brokers will know of many examples where clients were very, very lucky that their insurer paid their motor vehicle accident claim. In your experience, which of these ‘exclusions’ produce the most inconsistent claims outcomes?

Alcohol: if you cannot walk you should not drive (44.26%)

All claims should be paid, no questions asked (5.74%)

Recklessness: keep it on four wheels please (6.56%)

Maintenance: bald tyres and jiggly shocks are no good (13.93%)

Speed: kills people and insurance claims too (29.51%)

The introduction by insurers of so-called grid failure exclusions

Necessary (10.81%)

An overreaction by overly cautious insurers and reinsurers (8.11%)

Insurers were left with little choice but to implement exclusions because the resulting losses would be too widespread (40.54%)

Insureds are already unhappy about the ongoing ‘shrinking’ of their cover through higher excesses; lower sums insured; and outright exclusions. Could insurers not make new exclusions more palatable? (40.54%)

The FSCA is focusing on nine enforcement issues this year, including fictitious policies; RE fraud and rent-a-KI… Are you surprised that FSPs are still going the rent-a-KI route?

Not surprised, a good KI is hard to find (32.4%)

Surprised, why cross the line (5.92%)

There are worse transgressions to focus on (7.32%)

This is crazy, KIs have to be involved in the day-to-day (33.8%)

What is rent-a-KI again (20.56%)

The 21st Century SA business environment is awash with legislation that enshrines some level of transformation outcome, including the B-BBEE; EE; FSR; and soon COFI Acts. Are you / is your business compliant with these laws?

Absolutely, yes (56%)

Not today, but we are getting there (21.33%)

Not today, not ever (2.67%)

We’re just trying to stay afloat for now (8%)

We’ve sold up and headed offshore (12%)

There is growing pressure on retirement fund trustees to allocate some of your clients’ pension fund assets to infrastructure projects that deliver environmental or social impact… How do you respond to the call to invest retirement savings in green energy, hospitals, transport infrastructure etc?

Infrastructure is government’s baby (26.47%)

Nothing matters except investment return (23.53%)

Let’s invest for good, why not (20.59%)

Retirement means nothing if the planet is cooked (14.71%)

We’re all working till we croak (14.71%)

On 24 February, the Financial Action Task Force (FATF) added South Africa to its grey list of countries that have weak measures to combat money laundering and the financing of terrorism, despite having allowed the country time to address such shortcomings. Did you expect the FATF decision?

Mercy please, no more (4.85%)

It was expected (51.52%)

It was invited by a dithering government (36.97%)

It was totally unexpected (1.21%)

What is this grey list again? (5.45%)

Cryptocurrencies are here to stay. With 92% of clients seeking guidance from their financial adviser on cryptocurrency investing, does this not pose an opportunity?

No, I’m not assisting clients with investing in cryptocurrencies (16.67%)

The unregulated nature of cryptocurrencies is the reason I’m not advising clients on cryptocurrency investing (20.83%)

Yes, but I will need to upskill in order to provide the relevant advice (12.5%)

The introduction of regulations in South Africa and, globally, is a clear sign that cryptocurrencies are here to stay. So, now is the time (50%)

The ENS case: It’s common practice in many industries to send banking details via email. But if you’re familiar with the recent Johannesburg High Court ruling that ordered a local law firm to pay a cybercrime victim R5,5 million – plus interest – and punitive legal costs, you might think twice before hitting the send button. Was the judgement fair?

Yes, it was (32.26%)

50/50 As it sets a precedent applicable to all businesses that use email to send banking details (35.48%)

No, it was not fair (32.26%)