The percentage of cases resolved in favour of complainants was 29% in 2022 and just over 34% in 2021.More than R1bn. That’s the amount of money that the two insurance ombud offices — long-term and short-term — awarded to consumers whose complaints were heard by their adjudicators in the three years from 2020 to 2022.
One of the funeral policy matters resulted in the Ombudsman for Long-Term Insurance making a final determination against Santam Structured Life — one of five such determinations made in 2022 after the insurers concerned refused to abide by a provisional ruling against them. If a final determination goes against an insurer, the details of the matter, including the name of the insurer, are published on the OLTI’s website.
“Other complaints received by our office concerning this product show that the complainant’s assumption that this was a funeral policy is not unique,” the final determination read. The policy, administered by a bank and underwritten by the Liberty Group , was taken out in September 2019, providing cover for death due to “non-natural” causes. The insured passed away eight months later.
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Insurance watchdogs return R331m to clientsFour industry bodies are to be amalgamated into a single national financial ombud scheme
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