Tag: Long Term Assurance Ombudsman
SA insurance ombudsmen – losing their way?
In 1985 the South African insurance industry voluntarily launched the Ombudsman for Long Term Insurance system. The Ombudsman for Short Term Insurance (OSTI) was launched some four years later in 1989. These bodies operated independently and separately from one another until last year.
Momentum’s monumental mistake and the perils of mob-rule
The executives of Momentum insurance appeared recently to have been coerced under popular pressure into making payment of a void policy, thereby upending over 250 years of sound global application of the common law.
