WATCH: Why the FSCA has taken a tough stance with insurers
The Financial Sector Conduct Authority’s Makgompi Raphasha talks to Business Day TV
The Financial Sector Conduct Authority (FSCA) has come out strongly against insurers who have refused to pay claims related to the Covid-19 pandemic.
The financial services regulator has said that the national lockdown cannot be used by any insurer as grounds to reject a claim because such conduct goes against the principles of treating customers fairly and breaks down confidence and trust in the insurance sector.
Business Day TV spoke to the FSCA’s Makgompi Raphasha for more detail.
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