n the final edition of the Com- municator for this year we focus on regulatory aspects of the financial services industry and the importance of complying with these regulations. It is clear that the South African financial services industry will align to international standards and that we need to adapt to these requirements.

I agree with the article published by Tom Healy that ‘we are all aware of the important and unique role insurance plays in the daily lives of millions of people, so it’s important to have an insurance industry that is sustainable, innova-tive and competitive.”

Read more on iing.co.za.

Egoli Golf Challenge 2016

Regulation in the Insurance Industry Tom Healy, Business Unit Manager within Marsh Africa, comments on the industry and its changing regulatory environment.

he IING hosted the 2016 Egoli challenge at the Parys Golf Estate on the 1st of September 2016. The IING Sporting Committee received the support of 5 asso-ciations and a total of 60 play-ers. Supporting insurance insti-tutes were KZN, Free State, Eastern Gauteng, Gauteng and Northern Gauteng.

The winner team of the day and the floating trophy were awarded to the team from Gauteng, captained by Anthony Jackson. Read more on iing.co.za.

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here has generally been a lack of trust within the insurance industry. The industry was perceived to be a necessary evil within the public domain, and this perception did very little in

driving trust between insurers and policy holders. Read more on iing.co.za.

Regulatory Intelligence(SAM) he draft Insurance Laws Amendment Bill addresses development in the South Afri- can insurance market in respect of corpo-rate governance, risk management, internal con-trols and insurance group supervision. The draft Insurance Laws Amendment Bill (ILAB) forms part of the interim of the Financial Services Board’s (FSB) Solvency Assessment and Manage-ment (SAM) regime and aligns the South African Insurance market with internationally accepted standards for insurance supervision and regula-tion. (December 2013)

Requirements in respect of corporate govern-ance, risk management and internal controls.

Read more on iing.co.za.

2016 Year-End Celebration with Our Members

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Sign up your brokerage today and give clients access to MiWay’s world-class Personal and Business insurance products and services.

Join the world of #insurancefreedom. Email us at brokers@miway.co.za today.

Are you giving clients#insurancefreedom?

MIW

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his year just under 200 members and guests attended the Silver, Black and White themed IING year-end function hosted at the Olympus Stream Venue. While we have many functions throughout the year, this celebration is

always our biggest event, which gets bigger and bigger every year. This event is less about formali-ty, but more about a thank you to our members. Read more on iing.co.za.

IING Ladies’ Day Event

RDR Will Disrupt the Insurance Industry

POPI - how it will affect your business?

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nce a year we all get together in a beau- tiful setting to celebrate being women. This year that setting was the Farm Inn, where the lovely surroundings set the scene for a wonderful morning. The 177 “Diamonds & Denim” dressed ladies, who had shed their man-tles of responsibility for a few hours, sipped champagne (or coffee, for those shivering with cold!) and spent some time catching up with friends and colleagues too seldom seen.

he Financial Services Board (FSB) recently released an update of the Retail Distribution Review (RDR) discussion document that was originally pub-lished in November 2014. The FSB considered the feedback of 88 commentators on the RDR paper, with additional comment by industry players along with other sources.

Read more on iing.co.za.

he intention of the Protection of Per- sonal Information Act is to bring South Africa in line with international stand-ards of protection of personal information and will radically change the way in which both government and business deal with individu-als’ private information,” says Charles Stretch, MD of SMSPortal.

Read more on iing.co.za.

“I would like to be known as an intelligent woman, a courageous woman, a loving woman, a woman who teaches by being. Maya Angelou”

Walking through the courtyard into the hall our “Diamonds and Denim” theme was evident on the tables set for the ladies, where each received a lovely little pamper gift bag.

Read more on iing.co.za.

(Souce: RiskAfrica magazine) (Source: Entrepreneur Magazine)

Treating Customers Fairly – What is TCF?

Insurer Fails to Prove Non-Disclosure in Credit Life Matter24 October 2016. Judge R McLaren, Ombudsman for Long-term Insurance, found there was adequate infor-mation for an insurance claim to be successfully assessed.

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RE1 & RE 5 Workshop: Information & Prepara-tion Session he IING presented another successful RE 1 and RE 5 Information and Prepar- ation session at the Santam offices in Pretoria on 26 September 2016. As a result of continued requests, the first session for 2017 will follow early in the year. Details will be com-municated in January 2017 on the Insurance Institute Northern Gauteng website.

About 80% of participants attended for RE 5, and about 20% for RE 1.

Read more on iing.co.za.

air treatment of customers underpins the General Code of Conduct for financial services providers (FSPs) and Representa-tives. While the principles embodied within the outcomes may already form part of the culture of an FSP’s business, the demonstration of the outcomes may not yet be in place and changes to some business processes may be required, and in some cases, new processes may need to be implemented.

Read more on iing.co.za.

espite insurance company Bidvest Life declining a credit life claim on the basis that documents and information were out-standing, the Ombudsman for Long-term Insurance found there was adequate information for the claim to be assessed.

The insurer had also claimed there had been non-disclosure that the deceased was suffering from HIV at the time of application.

Read more on iing.co.za.

email marketing@iing.co.za

The Committee Strategic planning session 2017 will take place on 1 December 2016.

Building memories with our members in 2016!

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