Reports and Articles

Misrepresentation after the Inception of the Policy

Misrepresentation after the Inception of the Policy

We may decline to indemnify or compensate You for Your loss, damage or any liability under this section if the risk is materially changed without Our written consent.”

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A Statistical Analysis of Matters Closed by OSTI in 2019

A Statistical Analysis of Matters Closed by OSTI in 2019

During 2019, OSTI finalised a total of 9 167 formal complaints. The majority were in respect of motor vehicle claims, followed by homeowners/building claims.

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Reports

The Uninsured and the “Not-so-Insured”

The generally accepted statistic is that only 30 to 35 % of motor vehicles on South African roads are insured. This statistic is simply based on recorded data. It is my contention, however, that in reality a greater proportion of vehicles considered insured may not in fact be insured.

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Chairman’s Report

Chairman’s Report

This is my third report – and who would have imagined it being written, on my balcony, in the midst of a pandemic.

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but Different

Same-Same, but Different… (Cell Phone Claims)

Short-term insurance contracts are contracts of indemnity which means that the insurer’s obligation is to place the insured back in the same financial position that he was in immediately prior to the loss or damage.

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COVID-19 and OSTI’s Response

COVID-19 and OSTI’s Response

Effective communication during any crisis is crucial to maintaining trust with all stakeholders, our staff being one of them, and to restoring morale and confidence. We adopted a robust communication approach, especially as this crisis, like any other crisis, added another layer of complexity to communication with the circulation of false/fake news. Our approach has been to over-communicate; educating and informing our staff.

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Reports

The Fast Track Process

The Fast Track Department is well-positioned through its profiling capabilities to identify those matters suited to resolution by mediation.

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Finance Matters

Finance Matters

The financial statements were prepared in accordance with the International Financial Reporting Standards and the requirements of the Companies Act of South Africa.

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OSTI’s Role in Resolving Disputes

OSTI’s Role in Resolving Disputes

As OSTI is an alternative to the court system, it is easily approachable, has a more flexible process and is inexpensive for complainants.

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Report by the Ombudsman

Report by the Ombudsman

Despite the major challenge of this increase in dispute numbers, from 9779 received in 2018 to 10 367 in 2019, we managed to maintain our time-frames without compromising the quality of our recommendations.

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