Black Business Growth Funding a win-win for financial sector black empowerment
The financial sector has four months left in which to shore up ownership and empowerment financing scores for 2018 against the targets of the Amended Financial Sector Code (FSC) by making use of the new alternative option of channelling funding to black owned enterprises in line with the FSCs Black Business Growth Funding (BBGF) provisions.
Damage arising from marijuana operations not covered by policy (US)
Sandra Sithole, Director
Norton Rose Fulbright South Africa Inc. A US appeals court in August 2018 found that an insurer does not have to indemnify its insured for damage to a warehouse by tenants who converted it into a marijuana growing operation, finding that an exclusion in the policy for losses resulting from criminal acts precluded cover.
SAcsi - Treating Customers Fairly increases Customer Satisfaction
The SAcsi benchmark once again revealed that short-term insurers biggest challenges and complaints were related to their pricing, response times and claims processes. Short-term insurers were also measured against the Treating Customer Fairly (TCF) outcomes.
Financial Services Industry – no need to overcomplicate things
The Financial Advisory and Intermediary Services (FAIS) Act, the General Code of Conduct, the Financial Intelligence Centre Act (FICA), Treating Customers Fairly (TCF), the Protection of Personal Information Act (POPI), the Retail Distribution Review (RDR) and Fit and Proper requirements are just some of the standards and requirements in the financial services industry.
The practice of “Defensive Medicine” grows alongside the rise of medical malpractice claims
Aneesa Bodiat, Head of Legal
Natmed Medical Defence (Pty) Ltd
The number of medical malpractice claims in South Africa is rising at an alarming rate, and along with this trend is the potential increase in the practice of defensive medicine.
Insurers and loss adjusters to take care when investigating claims
By Jay Page, senior associate, Bowmans
If it is not already high on the agenda, becoming familiar with the requirements of the Protection of Personal Information Act (POPI Act) should be a priority.
Associated Compliance Newsletter 068 – August 2018
The August 2018 Associated Compliance Newsletter has been published in the Insurance Gateway Knowledge Base. The compliance landscape has become increasingly time consuming and complex to navigate. It will therefore be well worth your time to read the latest edition of the Associated Compliance newsletter, which offers you an overview and opinions of the latest and most prevalent happenings within the regulatory environment.
Importance of RE Qualifying Criteria
In response to a recent enquiry from a candidate, it is important to highlight the absolute necessity to ensure that you take into account the qualifying criteria when preparing for the regulatory exams.
South African start-up, Pineapple Insurance, accepted into Google accelerator
Pineapple, South Africas first peer-to-peer insurance company, today announced that it has been accepted into Googles Launchpad accelerator. There have been eight batches of start-ups accepted into the accelerator over the past three years.
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