Insurance Law News
More newsPlugging the hole in the cell captive fence before the wheels come off
The Financial Sector Conduct Authority (FSCA) and the Prudential Authority’s (PA) (collectively, the Authorities) failure to provide further guidance regarding the requirements and ambit of the specific form of contractual ring-fencing required in terms of the Insurance Act 18 of 2017 (Insurance Act) in the context of cell captive arrangements, if not rectified, could lead to scenarios that defeat the objectives of cell captive arrangements by undermining the various benefits offered by cell structures, namely, improving the financial sustainability of the cell captive insurancesector.
Dying for a cash in: Life insurance claims amid criminal investigations
South Africa grapples with one of the highest crime rates in the world, driven by a multitude of factors. The South African Police Service (SAPS) is significantly outnumbered by offenders, and its efforts are hampered by a lack of resources and inadequate training. Unfortunately, this situation has become a norm rather than an anomaly for SouthAfricans.
Insurance perils and more…
The recent floods in KwaZulu-Natal have triggered many insurance claims against insurers for losses suffered in connection with perils insured under a contract of insurance.