8.2: Record Keeping
In this rule, any reference to policyholder includes a member of a group scheme. This rule applies, in addition to any other record keeping requirements provided for in any other rule, to all communications related to a policy or a policyholder. An insurer must have appropriate systems, processes and procedures in place to – Record […]
8.1 : Introduction
A. Definitions In this rule any reference to policyholder includes a potential policyholder, a member of a group scheme and a potential member of a group scheme. Processing of personal information include one or more of the following actions: Collecting, receiving, updating and retrieval of personal information of individuals and entities. Using personal information of […]
7.3: Requests for Information
An insurer must at the written request of an intermediary that is authorised in writing by a policyholder or a member of a group scheme, provide that intermediary or the policyholder or member of a group scheme with the information referred to in the authorisation, within a reasonable time after receipt of the request, irrespective […]
7.2: Intermediary agreements
An insurer may only enter into an intermediary agreement with an intermediary where – In the case of an independent intermediary, that person has, been licensed as a financial services provider and authorised to render financial services in respect of the policies offered by the insurer in accordance the FAIS Act and the insurer has […]
7.1 Introduction
In this rule FAIS product knowledge competency requirements mean the requirements relating to class of business training and product specific training prescribed under the FAIS Act. Intermediary agreement is an agreement entered into between an insurer and an intermediary setting out the terms under which the intermediary will render services as intermediary in respect of […]
6.3: General Disclosure Requirements
A. Language and format Any communication by an insurer to a policyholder in relation to a policy must – Be in plain language. Not be misleading. Be provided using an appropriate medium, considering the complexity of the information being provided. Where applicable, be in clear and readable print size, spacing and format. In respect of […]
6.2: Application
All requirements in this rule relating to information applicable to a policy apply equally to information applicable to a related service. For purposes of this rule, policyholder includes a potential policyholder. This rule applies to all communications from the date on which this rule takes effect, unless specifically excluded in relation to a specific requirement.
6.1: Introduction
In this rule direct marketing means the marketing of a policy by or on behalf of an insurer by way of telephone, internet, digital application platform, media insert, direct or electronic mail in a manner which entails the completion or submission of an application, proposal, order, instruction or other contractual information required by the insurer […]
5.13: Loyalty Benefits or Bonuses
An advertisement that reference a loyalty benefit or a no-claim bonus or rebate in premium, must not create the impression that such benefit or bonus is free and must adequately – Indicate if the loyalty benefit, no-claim bonus or rebate in premium is optional or not. Express the cost of the benefit, bonus or rebate […]
5.12: Endorsements
Testimonials and third-party endorsements used in an advertisement – Must be the genuine opinion and actual experience of the person making the testimonial or endorsement and be properly attributed to such Must be based upon actual statements made for testimonial or endorsement purposes. May use a pseudonym instead of the real name of the person […]