One of the reasons why insurance claims are rejected is because the insured failed to understand the details of the policy, especially what is covered and what isn’t.
The Non-life Insurance Division of the National Financial Ombud Scheme is sometimes required to make rulings on complaints brought by insured consumers who have had claims rejected by their insurers.
Commemorating the First 100 Days of the National Financial Ombud Scheme (NFO), Head Ombud, Reana Steyn took the opportunity to reflect on the newly-formed organisation’s significant achievements in this short space of time.
Reporting on the 2023 Annual Report for the Ombudsman of Banking Services (OBS), former Banking Ombudsman Reana Steyn, reflected on the past 23 years of the office’s existence.
The Ombudsman for Long-term Insurance (OLTI) and the Ombudsman for Short-term Insurance (OSTI) have published their last joint annual report for 2023, as they have now been incorporated into the National Financial Ombud Scheme South Africa (NFO).
South African consumers across the board find themselves increasingly under pressure due to the high cost of living and other factors outside their control, such as the increasing food and petrol prices, with most of their budget going towards essentials.