Raynold Tlhavani (ZA)

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Failure to respond to complaint lodged against FSP

By Raynold Tlhavani (ZA) on May 11, 2016 Posted in General

The January 2016 determination of the Ombud for Financial Service Providers in Johannes William van Breda v Alesio Mogentale & Another is a good reminder of the powers of the Ombud where an FSP fails to respond to a complaint made against it. The complaint arose from a failed investment into a product known as … Continue reading

Gross negligence and reasonable precautions

By Raynold Tlhavani (ZA) on May 10, 2016 Posted in Insurance

Subject to the provisions of the policy, the fact that a loss or occurrence insured against is caused by the insured’s negligence is irrelevant. This applies to all negligent acts, even those that are grossly negligent. It also holds true for so-called reckless conduct, if the recklessness involved is nothing other than gross negligence. The … Continue reading

The duty of financial service providers

By Raynold Tlhavani (ZA) on May 9, 2016 Posted in Insurance

The December 2015 determination of the Ombud for Financial Service Providers in De Hoop Steenwerwe v Finmar Makelaars reminds us of the duties imposed on FSPs by the FAIS Act and the FAIS General Code. Central to the complaint in this case was the FSP’s failure to update the sum insured under the business interruption section of … Continue reading

Specialty lines insurance in Africa

By Donald Dinnie and Raynold Tlhavani (ZA) on April 23, 2016 Posted in Insurance

Africa’s largely untapped specialty lines insurance market has significant opportunities for insurers willing to enter the region. As the market develops, more difficult and unusual risks will be written. Regulations which vary by country must be considered. For example, placing insurance with a locally licensed insurer is often a requirement or a percentage of the … Continue reading

Policy amendment and events

By Raynold Tlhavani (ZA) on April 22, 2016 Posted in Insurance

The March 2016 ruling of the ombud for financial services providers in Khoza v Bensure Management Services is worth reading because it reminds us of an FSP’s obligations regarding an amendment to a policy and the meaning of the word “event”. The complainant took out a Journey policy through the FSP which entitled her to … Continue reading