Following a lengthy year in which the financial sector was under scrutiny for its transformation progress and or lack of, by the joint sitting of the Standing Committee on Finance (SCOF) and the Portfolio Committee of Trade and Industry, 2017 ended on a more positive note with the release of the first report on transformation of the financial sector, giving a rather balanced view of the transformation agenda within the sector.
The South African Insurance Association (SAIA) is the representative body of the short-term insurance industry. It represents the industry to all relevant stakeholders to ensure a sustainable and dynamic industry. SAIA has 59 members, comprising all categories of short-term insurers, including reinsurers. Its members abide by the SAIA Code of Conduct, which ensures adherence to best-practice industry standards and self-regulation.
To promote and represent the interests of the short-term insurance industry, while leading and enhancing the efforts of the industry to become recognised and trusted as an important contributor to the South African economy and society.
- To encourage fair and ethical treatment of short-term insurance customers
- To favourably represent the short-term insurance industry in such a way that all stakeholders have trust and confidence in the industry
- To create an environment in which industry members can share information, debate important and relevant issues, and create a common vision for the short-term insurance industry
- To create opportunities for the industry and to embark on initiatives that will enhance its image and reputation amongst all stakeholders
- To promote understanding of short-term insurance to all stakeholders
- To promote awareness of the industry and its contributions to society and the South African economy
Minister of Trade and Industry, Mr. Rob Davis finally gazetted the much awaited for Amended Financial Sector Codes (FSC), following a four year long alignment process.
FSB Proposes Extensive Amendments on Advertising and Complaints Sections of the FAIS GCoC Mar 06, 2018
The Financial Services Board (FSB) has published the proposed amendments to the General Code of Conduct for Authorised Financial Services Providers and Representatives under the Financial Advisory and Intermediary Services Act, 2002 (FAIS GCoC).