Tag archives: Credit insurance

The nature of credit insurance

By Patrick Bracher (ZA) on February 4, 2022 Posted in Insurance

In a UK decision it was argued that the position in which the credit insurer ended up was inherently suspicious because it was ‘circular’ in that, if the insurer incurred liability to one person, it could recover from the sole shareholder of the other party under a counter-indemnity. The court said: “However, that is the … Continue reading

Many refunds for force-placed insurance

By Patrick Bracher (ZA) on February 23, 2016 Posted in Insurance

There have been a number of cases internationally where financial institutions have been obliged to refund policyholders for imposing force-placed insurance deals at the time of contracting for financial services. Under the National Credit Act in South Africa, credit insurance must not be unreasonable nor at an unreasonable price and this is a good test … Continue reading