South Africa: Insurance Industry Update - September 2021
08 October 2021
This summary of the third quarter developments includes regulatory updates, court rulings, operational risks, and our view on COVID-19-related issues. Major topics include:
- Riot insurance and premium increases
- Ombud ruling in favour of the insured in auto claim involving excessive speed
- Proposed amendments to the policyholder protection rules for micro-insurers
- Draft public reporting for insurers
- Reporting standards on risk adjustment, capital allocation and transition
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Avashni Rossouw
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South Africa: Insurance Industry Update - September 2021
Rollercoaster quarter included rioting that caused widespread damage and substantial claims, while some insurers announce mandatory vaccination plans.
David Kirk, Richard Taylor, Avashni Rossouw, Susan Melmed, Chris van der Merwe