More insurers feel bite of long-term sector watchdog
Sanlam Developing Markets is a ‘repeat offender’ with final determinations against it every year since 2017
There has been an increase in instances where the ombudsman for long-term insurance has had to compel insurers to act in the interests of policyholders, the ombudsman’s 2019 annual report shows.
The 2019 annual report by the ombudsman for long-term insurance, which was released on Wednesday, shows that nine final determinations were issued against insurers during the year under review. This is three more than were issued in 2018, and three times as many that were issued in 2017...