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An appraisal of the twin peaks model and its ability to effectively regulate the South African insurance industry

- Coppinger, Caelin Shea

Authors: Coppinger, Caelin Shea
Date: 2021
Subjects: Insurance law - South Africa , Consumer protection - Law and legislation - South Africa , Financial services industry - Law and legislation - South Africa
Language: English
Type: Masters (Thesis)
Identifier: http://hdl.handle.net/10210/475234 , uj:42863
Description: Abstract: It can be said that the Global Financial Crisis of 2008 (“GFC”) emphasised the need for a more rapid and robust regulation of the financial services industry. Moreover, it emphasised that market conduct supervision and prudential regulation need to be supportive of one another and highlighted the importance of financial consumer protection. As a result, the G20 High Level Principles of Financial Consumer Protection (“G20”) policy document was issued by the Organisation for Economic Cooperation and Development (“OECD”) in 2011... , LL.M. (Commercial Law)
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Claims handling in microinsurance in terms of the 2018 Policyholder Protection Rules

- Mbawo, Lethabo Romeo

Authors: Mbawo, Lethabo Romeo
Date: 2019
Subjects: Microinsurance - South Africa , Insurance law - South Africa , Insurance claims - South Africa
Language: English
Type: Masters (Thesis)
Identifier: http://hdl.handle.net/10210/413601 , uj:34850
Description: Abstract: The complex world of insurance law is not readily understandable to a “gogo Dlamini” on the streets. This is due to the fact that traditional insurance, as we know it, has primarily been focused on serving those who have the financial muscle to consistently pay premiums. Less attention has been given to the market in the informal sector and thus many insurance products have not been designed with such a market in mind. In recent years, the South African government has taken an initiative to include those who have been excluded in the financial sector. One of the mechanisms chosen to achieve this goal was the introduction of microinsurance. Microinsurance is intended to introduce affordable insurance to the poor. Its main objective being to help manage everyday risks that the poor find themselves in. The success of microinsurance will however depend on the number of claims that are successfully paid out by microinsurers. Therefore it is important that a system is put in place to assist consumers of microinsurance in the insurance value chain to ensure that they are able to lodge successful claims. It is against this background that this paper investigates the impact of the 2018 Policyholder Protection Rules on claims handling in microinsurance. The crucial question being whether the rules make claims handling simple enough for microinsurance consumers to successfully claim from their insurers. This paper takes a stance that the features introduced by the 2018 Policyholder Protection Rules across the insurance value chain have the potential to make claims handling simpler for microinsurace consumers. , LL.M. (Commercial Law)
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Credit life insurance: are some regulated more equally than others?

- Otty, Shayne

Authors: Otty, Shayne
Date: 2017
Subjects: Credit life insurance - South Africa , Life insurance - South Africa , Insurance law - South Africa , South Africa. National Credit Act, 2005 , Credit - Law and legislation - South Africa
Language: English
Type: Masters (Thesis)
Identifier: http://hdl.handle.net/10210/270979 , uj:28812
Description: Abstract: South Africa’s embattled and former Minister of Finance, Pravin Gordhan made his final budget speech in February 2017, titled: “Check Against Delivery”. The speech, when summarizing aspects of the regulatory reform for the 2016/2017 fiscal year, touched upon new restrictions on credit life insurance and exemplified the prevention of the sale of retrenchment insurance to unemployed consumers. The former minister was referring to the Final Credit Life Insurance Regulations published in terms of section 171(1)(c) of the National Credit Act. These remarks were undoubtedly overshadowed by the preceding discourse into the Twin Peaks model of financial sector regulation to be implemented by South Africa. However, this should not be the case. In any well-functioning legal system, it is the academics, commentators, practitioners and scholars who serve as the sounding board for societal needs. This dissertation seeks to do exactly that, specifically in respect of the credit life insurance regulation in South Africa. Particularly, at a point in time where there may have been a perception created that these regulations have succeeded in addressing the problems associated with this type of insurance. Finally, the most recent changes to the Policyholder Protection Rules in terms of the Long-term Insurance Act 52 of 1998 and the Short-term Insurance Act 53 of 1998 will be discussed as an attempt at introducing much-needed consumer protection regulation in this field. , LL.M. (Commercial Law)
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