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Subscribe To » Newsletter  | RSS Feeds Press Room Press Archive » First edition of the Ombudsman’s Briefcase for 2021 Published: Tue, 06 Apr 21 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 ... Read More » POPIA 101 Published: Thu, 01 Apr 21 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 date of the Protection of Personal Information Act 4 of 2013 (POPI) of 1 July 2021 fast approaching, businesses ... Read More » Hollard Group’s life insurance pay-outs soar to historic highs during Covid-19 pandemic Published: Thu, 25 Mar 21 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. 6 billion in death benefit claims were made between April 2020 and January 2021, significantly higher ... Read More » Life insurers pay more than half a trillion Rand to policyholders and beneficiaries in 2020 Published: Mon, 08 Mar 21 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 for Savings and Investment South Africa (ASISA) this represents an increase of R31. 7 billion from the ... Read More » Insurer Liberty adapts its education benefits to the realities of the pandemic Published: Fri, 05 Feb 21 The COVID-19 pandemic has for now, not only changed the way the traditional schooling system functions but the cost of education as well. With home-schooling becoming the norm, more parents are opting to pull their children out of traditional schooling and choosing full-time home-schooling rather, a trend ... Read More » Introducing our new eNews App Published: Wed, 13 Jan 21 Insurance Gateway is thrilled to introduce our brand new electronic newspaper. The final product is available as both a mobile and desktop application. Our aim with the app was to develop an electronic newspaper that would dynamically reflect and complement our more extensive Insurance Gateway website. The pages are ... Read More » Rule 19 – how it affects advisers and the industry, and are there tools to support advisers in complying? Published: Mon, 11 Jan 21 In September 2019, Rule 19 of the Policyholder Protection Rules underwent critical changes impacting insurers and financial advisors. The changes in relation to the termination of long-term policies brought about the inclusion of the Replace Advice Record (RAR), which applied when policyholders were replacing specific ... Read More » 1Life recognised as the top direct life insurer for the 10th year running Published: Tue, 15 Dec 20 1Life Insurance has maintained its position as South Africa’s leading direct life insurer, with the largest market share, for the tenth consecutive year, within the long-term insurance industry. This is according to the annual Swiss Re Individual Risk Market New Business Volume survey. “There ... Read More » Insurance Ombudsman determines non-advice policy is void Published: Wed, 09 Dec 20 An insurer cannot hide behind the contention that a policy sold on a non-advice basis in the lower income market places the onus on the policyholder to be familiar with exclusions, the Ombudsman for Long-term Insurance Judge Ron McLaren said. Ruling recently in a matter concerning such a policy, he said ... Read More » 1Life stats confirm the importance of healthy living amidst a possible second wave Published: Mon, 16 Nov 20 Mortality rates obtained by 1Life indicate that there has been a 233% increase in deaths between July and September this year, compared to last, with a massive increase in respiratory-related deaths. “Covid has taken its toll on South Africans – as it has the world over – and it is clear ... Read More » FOR YOUR EYES ONLY-POPIA ESSENTIALS Published: Thu, 12 Nov 20 The Protection of Personal Information Act (POPIA) has been in the making for a while, with certain aspects already introduced. It is finally set to come into full effect after President Cyril Ramaphosa said, in June, that the effective date for compliance is 1 July 2021, and most organisations will have much to do ... Read More » The importance of having a Will Published: Thu, 29 Oct 20 Drawing up a Will can be a very sensitive and uncomfortable subject but as death is inevitable, it is always better to be prepared. As a legal document expressing your last wishes, a Will may well be the most important document that you will ever sign. And while it is recommended that you use the services of a professional ... Read More » What will Finance Minister Tito Mboweni's 2020 Medium Term budget offer? Published: Thu, 22 Oct 20 South Africa's economic recovery plan The plan is aimed at fast-tracking the recovery of the economy from the devastation caused by the COVID-19 pandemic. It outlines government's plan to revive the economy with short and long-term interventions. If the plan is executed as presented, it is expected to ... Read More » Beneficiaries of fully underwritten life policies receive R16.7 billion in death benefits in 2019 Published: Wed, 07 Oct 20 South African life insurers paid 99% of all claims against fully underwritten individual life policies in 2019 to a value of R16. 7 billion. The 2019 annual death claim benefit statistics for fully underwritten individual life policies, released this week by the Association for Savings and Investment South Africa ... Read More » Expert financial advice still recommended – especially in uncertain times Published: Mon, 05 Oct 20 There's plenty of evidence to prove that a Financial Adviser in your life dramatically increases your ability to manage your finances, especially in challenging circumstances. According to the research company, Columinate, 70% of people using an adviser are more confident about their financial situation ... Read More » Review your will to account for COVID-19, advises JustMoney Published: Mon, 05 Oct 20 The COVID-19 pandemic is a timely reminder of the importance of ensuring your personal finances are in order – and a key component of this is an up-to-date will. This legal document, that should take into account the current value of your assets, with instructions on how you wish to allocate them, is particularly ... Read More » SANLAM PAYS OUT OVER R162-MILLION IN COVID-19 CLAIMS Published: Tue, 22 Sep 20 South Africa: 22 September 2020: R162-million of COVID-19 related claims were paid by Sanlam Individual Life between March and August 2020; with over R17-million paid to clients for sickness and income protection benefits and over R144 million paid in death and funeral claims.   Petrie Marx, Product ... Read More » LIBERTY MAKES BOLD DECLARATION IN NEW BRAND REFRESH Published: Mon, 14 Sep 20 With a pay-off line 'In it with you' the insurer says the time to rely only on just its innovative heritage is gone. It’s time to evolve, to show up better, to connect more and truly be a life partner – especially in times when it feels like the world has turned upside down   September, ... Read More » One of Mzansi’s biggest fundraising events in history gets SA’s sporting legends racing for change! Published: Wed, 26 Aug 20 South African NGO, Events to Aid, in partnership with needs-matched life insurer, BrightRock, today launched one of the biggest fundraising initiatives in the history of South Africa – The BrightRock Battle of the Sports! This event will see 12 of Mzansi’s leading cricket, rugby, soccer, and running heroes ... Read More » 1Life research: South Africa’s women are financially savvy with more women having life cover, and keeping it, than men! Published: Wed, 19 Aug 20 This Women’s Month, 1Life’s research celebrates South Africa’s women by demonstrating that they are financially savvy and leading the way. The research shows that 12% more women have life cover than men. Similarly, women have also been more careful about keeping this cover in place during ... Read More » Page:  12  of 2 More News » Healthcare » If I cannot afford medical scheme membership, what are my health insurance options for 2021? Healthcare planning new year resolutions for 2021 Healthcare Funding and Resources – SA’s ‘other’ pandemic NORTON ROSE FULBRIGHT SCOOPS AWARD FOR INNOVATIVE INSURANCE COMIC BOOK Health checks and treatment should be addressed even during COVID-19 Investment » Don’t fall for the hype around speculative investments SATRIX WINS MORNINGSTAR BEST FUND HOUSE AWARD Diversification is one of the many effects of oil price volatility on Middle Eastern and African oil producers Local hedge funds industry finding its feet in a regulated environment Interest bearing CIS portfolios attract record breaking net inflows in 2020 Retirement » STATUTORY MANAGEMENT OF SECURITY SECTOR FUND FAILS TO IMPROVE EMPLOYER COMPLIANCE Risks in retirement are increasing – but you don’t have to tackle them alone Treasury further tightens the noose on retirement assets of emigrants How the T-Day retirement reforms could affect you ADJUDICATOR SLAMS PRIVATE SECURITY SECTOR PROVIDENT FUND FOR NOT TAKING ACTION AGAINST DEFAULTING EMPLOYERS Short-term » Holiday safety is more than just locking up and being vigilant F&I shifting with the times New head for F&I Insurance SANTAM ACQUIRES 100% OF MIRABILIS ENGINEERING UNDERWRITING MANAGERS To insure or self-insure? A conundrum for fleet operators From The Glossary » First Surplus Treaty: The name given to an ordinary surplus treaty, which means that the surplus must be allotted to the treaty first and in priority to any other surplus reinsurance treaty. Sometimes a second surplus treaty, and a third surplus treaty are in place and these would receive a share of the surplus only after the first surplus treaty had received the full amount to which it was entitled. More Definitions »