First edition of the Ombudsman’s Briefcase for 2021
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
Wednesday, 14 April 2021 - International trends show a significant possibility of a resurgence of Covid 19 hitting South Africa in the next few months. Considering the significant increase in life insurance and ... 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 »
The Hollard Insurance Group, South Africa’s largest privately owned insurance group, today reported that it has paid out the highest death benefit claims in its 41-year history in the period since March 2020 ... Read More »
Policyholders and beneficiaries received claims and benefit payments worth R522. 7 billion from South African life insurers in 2020. According to the long-term insurance statistics released today by the Association ... Read More »
The rate at which insurance policies terminate through failure of the insured to continue making premium payments. It is usually expressed as a ratio of the number of policies on which insured failed to make premium payments during a given period to the total number of policies at the beginning of the period in which those lapses occurred.