What's Happening?

In the news | Friday, 28 September 2018



The FIA strives to keep abreast with the constant evolution of the consumer, business and legislative landscape. In line with ensuring that our members are up to date with current affairs, here are the top stories from the industry this week.

FIA Week@AGlance

  • FIA Limpopo branch member meeting, 21 September 2018
    The FIA Limpopo branch hosted a members meeting and provided CPD accredited training at the Pietersburg Club on 21 September 2018. Read more

  • New regulations: an opportunity to evolve your business?
    The RDR (Retail Distribution Review) process is driving a number of regulatory reforms that put caps on fee earnings, and challenges insurers and intermediaries to be more focused on due diligence processes. Read more
  • Choppy seas ahead for Marine insurance?
    When Lloyd’s of London, the doyen of Marine insurance for centuries, shies away from Marine, it’s a safe bet that this sector’s experiencing tough times. Read more


  • Can social media validate a claim?
    Social media sites have taken over our lives. Social media has the power to unify voices, publicize important issues and inspire the world but at the same time, it comes with disciplinary, legal and reputational consequences. Read more
  • Collaboration is key 
    When it comes to regulatory reform, one of the key aspects underpinning the approach of the Financial Sector Conduct Authority (FSCA) under Twin Peaks is that the regulation of the financial sector is being done using an outcomes-based approach, ensuring that regulation and supervision will be risk-based, proportionate, intensive and intrusive. Read more
  • Challenging conventional thinking
    On 18 September financial advisers gathered at the Sandton Convention Centre for Alexander Forbes Investment’s 2018 IFA Symposium.

    Designed to grow sustainable practices, financial advisers engaged with international headline speakers, economists and thought leaders around topics that challenged conventional thinking. Read more

Cover Magazine:

  • A medical aid revolution is coming
    The findings and recommendations highlighted in the provisional report issued by the Health Market Inquiry (HMI) underline the urgent need to change the way medical scheme options are designed says Jeremy Yatt, Principal Officer of Fedhealth Medical Scheme. Read more
  • Innovative role for insurance in the economy
    The head of a leading insurance company has called on the industry to reassess its reach in securing the assets of the poor while creating wealth for them which will help address the massive social deficiencies in South Africa. Read more
  • The role of the financial sector in achieving inclusive economic growth
    In a bold move aimed at placing greater focus on the role of the financial sector in achieving inclusive economic growth, the governing body of the Amended Financial Sector Code (FSC), which came into effect on 1 December 2017, has expanded its mandate and assigned the most senior leaders of its constituents to strategically drive the sector’s black empowerment goals. Read more


  • IISA to introduce CPD packages for individuals and companies
    The Insurance Institute of South Africa (IISA) is to introduce new CPD packages that will address the different needs of stakeholders in the short-term insurance industry, including those of non-members. Read more
  • SA household debt declines
    Allianz’s ninth Global Wealth Report brought a little bit of good news for South Africa. Financial assets of households great by 12.3% in 2017 while liabilities increased by 5.1% and although the debt ratio of households remained at 45%, this ratio has declined by almost ten percentage points over the past ten years. Read more