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News
Cellphone insurance: When the policy wording matters
3+ day, 5+ hour ago (1090+ words) A cellphone insurance claim can depend on much more than whether the device was stolen or damaged. The type of cover, the device recorded on the policy schedule, SIM-card requirements, single-item limits, and the circumstances of a theft can all…...
Not every medical non-disclosure justifies claim rejection
3+ day, 5+ hour ago (686+ words) An insurer cannot simply rely on an omitted medical test to reject a claim if it cannot show that the non-disclosure was material to its assessment of the risk. That is the lesson from an Appeal Tribunal decision involving Bidvest…...
RAF puts RAF 1 liability at about R40.9bn as claims head towards 160 000
3+ day, 4+ hour ago (1276+ words) The Road Accident Fund is preparing for almost 160 000 RAF 1 Form claims to be resubmitted following a Supreme Court of Appeal (SCA) judgment, creating a substantial additional workload with potentially significant financial implications for the Fund. The figures were presented to…...
Webinar | COFI readiness without the compliance complexity
3+ day, 4+ hour ago (488+ words) Small financial services providers and sole proprietors will be the focus of an upcoming Moonstone Compliance webinar on how smaller advice practices can prepare for the Conduct of Financial Institutions (COFI) framework without overcomplicating their compliance arrangements. The webinar takes…...
Retirement fund faulted for failing to verify death-benefit claim
3+ day, 5+ hour ago (1012+ words) The Pension Funds Adjudicator has set aside a death-benefit allocation after finding that a retirement fund failed to investigate properly a claim by an alleged cohabiting partner of a deceased member. The fund accepted the woman as a factual dependant…...
Kamlana: Regulation must keep pace as finance goes invisible
3+ day, 5+ hour ago (837+ words) That was among the issues raised by Financial Sector Conduct Authority Commissioner Unathi Kamlana (pictured) during a public lecture at the University of Cape Town on 6 August, titled “Governing the invisible: leadership, innovation, and accountability in the financial sector”. Kamlana…...
Law Society calls for safeguards as AML Bill expands regulatory powers
3+ day, 4+ hour ago (1540+ words) The Law Society of South Africa (LSSA) has called for clearer legal thresholds and procedural safeguards to govern the Financial Intelligence Centre’s proposed power to conduct lifestyle audits, although it supports the use of these audits in combating corruption and…...
RAF moves to curb default judgments as legal reforms gather pace
3+ day, 5+ hour ago (1674+ words) The Road Accident Fund is introducing a series of measures to strengthen its response to litigation, including a hybrid legal model, expanded mediation, and a new framework aimed at preventing default judgments. The Fund recorded 1 775 default judgments in the first…...
Unclaimed benefits | Support for central tracing, not central control
5+ day, 3+ hour ago (719+ words) If the government’s proposed reforms to South Africa’s unclaimed financial assets ultimately require unclaimed retirement fund assets to be transferred into a central fund, the retirement fund industry will lobby against the move. That is according to Nancy Andrews, the…...
High-profile FSCA investigations grind on amid legal battles
5+ day, 3+ hour ago (825+ words) Some of the Financial Sector Conduct Authority’s most closely watched investigations remain incomplete years after the underlying events took place. But the delays do not necessarily reflect regulatory inaction. Responses provided to Moonstone after the release of the FSCA’s 2025/26 Regulatory…...