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Even though we see our clients on a regular basis and are always available to provide input regarding queries and questions, we can’t tell everyone everything as and when news needs to be shared. We also understand that there is a perception that there is almost too much information in the marketplace and that this often hampers the flow rather than enhances it. For this reason, we have chosen to provide formal input on compliance-related matters to clients via a monthly newsletter that allows us to communicate key issues that we consider worthy of our clients’ attention on a more regular basis.

The newsletter is issued at the end of each month and has regular features that include, but are not limited to, news from:

  Associated Compliance
  The FSCA
  The FAIS Ombud
  The FIC
  And a variety of articles we have read from the marketplace that we consider to be worth our clients’ attention.

News story of the month

In late September and early October, the Regulator released three important documents:

  1. Amendments to the Policyholder Protection Rules
  2. Amendments to the Short- and Long-term Act Regulations
  3. The FSCA regulatory strategy and various memoranda of understanding


Let’s take a closer look at each.


Amendments to the Policyholder Protection Rules

Amendments have been made to both the short- and long-term versions. The release included the usual comments matrix that addressed the input on the drafts issued earlier this year. This document, though substantial (125 pages), is useful as it illustrates the Regulator’s thinking on the key issues raised by industry. Click here to download a copy.

Click here to download the short-term PPR and here for the long-term.


In both cases the main inclusion has been standards for Micro Insurance. For anyone looking at Micro Insurance as a future business option, these standards need to be studied.

There are other changes which mainly add clarity, for example adding rebated premiums under the loyalty benefit rules and including how to deal with claims with the grace periods.


One change, common to both short- and long-term, is on Rule 11. We’ve flagged this item as one needing serious attention as it sets the standard on quotes and renewals for insurers and brokers. We’ve been surprised at how low-key the activity has been although the general effective date is 1 January 2019 which is just around the corner.


The changes to Rule 11 add a requirement that the summary information provided to the policyholder has to include details of “…the representations made by and on behalf of the policyholder to the insurer which were regarded by that insurer as material to its assessment of the risks under the policy”.


This rule becomes effective 1 July 2019 to allow insurers (and their brokers) time to adapt standards accordingly. Insurers will need to be careful as data not noted is unlikely to be able to be used in claims repudiations. This is useful for brokers as it will assist in data collection and analysis processes.

Other e-news sites that provide useful information

·         Insurance Gateway (IG eZine)

·         FANews

·         RiskSA

·         Cover

March, 2018, Newsletter

AC Newsletter, Mar 2018 – View online | Download

April, 2018, Newsletter

AC Newsletter, Apr 2018 – View online | Download

May, 2018, Newsletter

AC Newsletter, May 2018 – View online | Download

June, 2018, Newsletter

AC Newsletter, June 2018 – View online | Download

July, 2018, Newsletter

AC Newsletter, July 2018 – View online | Download

September, 2018, Newsletter

AC Newsletter, September 2018 – View online | Download

October, 2018, Newsletter

AC Newsletter, October 2018 – View online | Download