in Tag: Point Of Sale (clear all)
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The Registrar of Financial Services Providers (Applicant) and Jacobus Gouws (Respondent) (case number EC16/2014)
Anyone who conducts business with an unauthorised financial services provider while being aware of the status of the provider contravenes 7(3) of the FAIS Act and section 2 of the GCC and is liable to pay a penalty.
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Zakhele G Buthelezi (Complainant) v Actebis 406 CC t/a Pro-Brokers and Louis Kempen (Respondent) (Case number: FAIS 07716/13-14/WC3)
Complainant’s complaint against the respondent was upheld as the insurer did not inform the complainant of the need to fit a tracking device to his motor vehicle
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Renier Reyneke Transport CC t/a Premium Trucking (Complainant) v Smit Garun Brokers (Pty) Ltd (Respondent) (case number: FOC 769/05/L/(3))
The respondent, Smit Garun Brokers (Pty) Ltd, acting on a mandate by the complainant, Renier Reyneke Transport CC t/a Premium Trucking, in 2004, prepared documentation to be submitted to new prospective insurers for new insurance cover as from 1 January…
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J P H Victor (Complainant) v Tectum Portfolio Services (Pty) Ltd (Respondent) (case number: FOC 3872/06-07/GP (3))
Complaint upheld in connection with short-term insurance contract where the authorised financial services provider had failed to comply with provisions of the GCC relating to explanations to clients of general nature and material terms of the relevant contract or transaction,…
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Marlon van Dorsen (Complainant) v P A Zervas Brokers CC t/a Bitline Brokers Pepina Zervas (Defendant) (case number: FOC 1953/07-08/GP 3)
Complaint upheld in a case whether the respondents failed to comply with FAIS Act duties to inform clients in proper language about how to make factually correct representations and to inform clients on information that is required.
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Fliptrans CC (Complainant) v S & P Insurance Advisors (Pty) Ltd t/a McCrystal and Partners (First Defendant) and E Solmes (Second Defendant) (case number: FAIS 07987/11-12/GP)
Complainant’s complaint pertains to lack of advice. He was not informed that he should fit a tracking device and when his motor cycle was stolen, his claim was repudiated.
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Johannes Cornellis Bothma Bester v Louise Lee T/A Louise Lee Finansiële Adviseurs (case number: FAIS 0091-13/14 G3)
The complainant’s claim was as a result of the repondent’s failure to in form him that his residence should have been protected by a fully operational, 24-hour controlled alarm that was linked to an armed response. The complaint was upheld…
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Rights and duties of the parties
Article: Common-law principles
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Rungatrans CC and Counterpoint Trading 328 CC T/A Policy Provider (Complainant) v Fusion Properties 268 CC T/A Brokers Choice (case number: FOC 2480/ 07-08/ KZN 3)
Complainant’s complaint was upheld as the respondent’s failure to disclose these key facts regarding the replacement policies constituted a contravention of sections 8(1)(d)(i) and 8(1)(d)(ii) of the GCC.
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Johan Adriaan Steenkamp (Complainant) v Old Mutual Life Assurance Company (South Africa) Limited (Respondent) (case number: FOC 1343/05 FS)
The complainant, Johan Adriaan Steenkamp, suffered a financial loss due to cancellation of health care benefits resulting from alleged non-disclosures regarding the health his dependent son who had been born prematurely. The finding was that the respondent’s official in rendering…
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Zuluiga Paulse (Complainant) v Roger Wilco Trading 117 CC/ trading as Augusta Motors (Respondent) (case number: FOC 3818/06-07 WC 3)
Complaint upheld in case where the complainant, Zuluiga Paulse, had been required to pay a certain amount for broker commissions despite that other amounts duly paid by her had already included those commissions.
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Lindo Johan Esterhuyse (Complainant) v Gavin Grobler (First Defendant) and Plum Portfolio Solutions (Pty) Ltd (Second Defendant) (case number: FOC 3481/06-07 PE (5))
Complaint upheld where entire investment lost due to the respondents’ flagrant violation of duties imposed by FAIS Act
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David Marthinus Adlen (Complainant) v Herman Coertzen Brokers CC and Herban Bernardus Coertzen (Respondent) (case number: FAIS 05054/12-14/GP2)
Complainant’s claim upheld where he was advised to replace one policy with another and cover was interrupted due to the change, resulting in the rejection of his claim.
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Typical terms, other than essentialia
Article: Common-law principles
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Interpretation of insurance contracts
Article: Common-law principles
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Consensus through a process of offer and acceptance
Article: Common-law principles
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The Registrar of Financial Services Providers (Applicant) and Talksure Trading (Pty) Ltd (Respondent) (case number EC20/2014)
When a call centre uses a script stating that they have compared insurance quotes from different insurance companies and they have in fact failed to do do, such behaviour constitutes a contravention of section 2 of the GCC as it…
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Masimdumise Gabriel Bhengu (Complainant) v Outsurance Insurance Company Limited (Respondent) (case number: FAIS 06001/14-15/ KZN 3)
Complainant’s complaint against the respondent was upheld as the direct insurer did not inform the complainant of the need to specify his laptop for purposes of the “out-and-about” clause in the contract.
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Bernette Vivienne Druckenbacher (Complainant) v Pieter de Wet t/a Model Insurance Company (Respondent) (Case number: FAIS 04909/11-12/GP (3))
The complainant’s complaint against the respondent succeeded as the respondent misrepresented to the public that he was an authorised short-term insurer and financial services provider.
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The Registrar of Long-term Insurance and the Financial Servic Board (Applicant) v Mpiti’s Funeral Services CC and Mzomhle Mpiti (Respondent) (case number: EC23/2015)
Selling funeral policies without being licensed to do so constitutes breach of section 7(1) of the LTIA.
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Aarvarn Rajcoomar (Complainant) v Pieter De Wet t/a Model Insurance Company (Respondent) (case number: FSOS 00406/14-15/KZN 3)
Complainant’s complaint was upheld where he suffered financial loss due to his motor vehicle not being insured. The respondent contravened section 7(1) of the STIA as he was never licensed to sell financial products to the public.
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Saroja Naidoo v South African Home Loans (Pty) Ltd (case number: FOC 035/06/KZN/2)
Legal requirements flowing from FAIS Act Codes of Conduct in connection with rejection of insurance claims on the basis of policy exclusions relating to pre-existing conditions of clients fully discussed. The respondent, South African Home Loans (Pty) Ltd, was held…
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Mario Angelucci (Complainant) v Alexander Forbes Administration & Insurance Services (A Division of Alexander Forbes Management Services (Pty Ltd) (Repondent) (case number: FOC 666/06)
The complaint by Mario Angelucci in the case of a claim under a short-term insurance policy covering burglary losses was dismissed due to alleged ignorance on the part of the complainant of certain applicable clauses of the policy having been…
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Palmeros Hospitality C.C (Complainant) v Willie Du Plessis Financial Services (Respondent) (case number: FOC 2372/06-07/EC (3))
Complaint on refusal of insurance cover on a stolen vehicle dismissed due to non-compliance with policy condition relating to a specific security requirement, as full disclosures thereon had been made to the complainant, and legal authority indicates clearly that broker…
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Khotso Petrus Mefane v Blue Dot Funeral Home CC, Lucas Nganga, Portia Matshidiso Lekau and Moagi Jeremiah Masike (case number: FSOS 00014/14-15/ NW 2)
Complainant’s complaint pertains to the respondents’ failure to register as an insurer in terms of section 7(1) and constitutes a contravention of the LTIA. The respondents were liable to repay the premiums of R6 790 they collected from the complainant’s…
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Marc Rupert Hughes (Complainant) v Mariëtte Jolene Slippens (First Respondent) and Gen-Assist Insurance Brokers (Pty) Ltd (Second Respondent) (case number: FAIS 05470/13-14/GP3)
The complainant’s complaint was upheld where he requested the repondents to insure his household content for R1 million but the respondents only insured it for R100 000.
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Neil Venter (Complainant) v Daija Investments CC t/a AB Insurance Brokers and Ahmed Bayat (Respondent) (case number: FAIS 05470/13-14/GP3)
Complainant’s complaint pertains to lack of advice. He was not informed that his policy contained a warranty that stipulated that his tracking device should be tested every six months. When his motor vehicle was stolen, his claim was repudiated as…
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