First edition of the Ombudsman’s Briefcase for 2021
Published
2021
Tue
06
Apr
In our first edition of the Ombudsman’s Briefcase for 2021 we take this opportunity to wish you a safe and prosperous year ahead. We face this year with a little more hope having emerged from a second wave of the coronavirus and with the COVID-19 vaccine being rolled-out.
In this edition we look at insurance claims that arose due to the COVID-19 pandemic, and how OSTI dealt with them.
OSTI’s Terms of Reference require the office to deal with matters using “the criteria of law, equity and fairness”. The office is empowered to resolve complaints and disputes and make rulings “based on the law and equity”. It must have regard to the provisions of the policy, the circumstances of each case and what is fair and reasonable in those circumstances. Each matter must be considered on its own merits. OSTI, however, cannot re-write or amend the terms of a policy
Technical excellence is a term that is often cited in insurance, and especially so in relation to AGCS’s international clients with their complex risk profiles. But while it is frequently used, what does ... Read More »
All businesses with employees, customers and suppliers must comply with POPIA, which comes into effect on 1 July 2021. Here is a practical guide to the most important aspects
With the commencement ... Read More »
Satrix’s Top 40 ETF was yesterday named South Africa's favourite exchange-traded fund (ETF) for the fourth consecutive year at the 2021 South African Listed Tracker Funds Awards (SALTA). The index investment ... Read More »
The year in which a policy was issued or renewed. The policy year is a special accounting unit, unique to the insurance industry, analogous to a cost accounting unit used in manufacturing industries. This unit is used for development of exact loss costs and loss ratios to relate losses under a selected group of policies to the exposure, and to the policy premiums.