Tag archives: RDR

What happened to policy data administration services?

By Patrick Bracher (ZA) on January 18, 2018 Posted in Insurance

A previous draft of the Short-term Insurance Regulations included policy data administrative services (PDAS) as a service attracting remuneration of 2% of premium. This was left out of the final regulations. According to the National Treasury Key Issues document ‘It has been decided, at this stage, to maintain the status quo by not classifying PDAS … Continue reading

Right to intermediary commission

By Patrick Bracher (ZA) on January 28, 2015 Posted in Insurance

The Retail Distribution Review has reminded us that in 2010 the appeal court in Maree v Chris Booysen t/a NVM Beleggings & Versekeringsadviseurs found that the long-term intermediary was not entitled to an advice fee. Earnings were restricted to a fee for services as intermediary under the Long-term Insurance Act. The matter went through three … Continue reading