Johannesburg - The first of the South African Insurance Association’s (SAIA) flagship Consumer Education initiatives for the period 2017/18 successfully launched on 9 April through radio programmes aired on four radio stations, viz. Jozi FM, North West FM, Rise FM and Izwi LoMzansi FM.
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
PUBLIC ANNOUNCEMENT VAT RATE INCREASE: HOW DOES IT IMPACT SHORT-TERM INSURANCE POLICYHOLDERS? Mar 28, 2018
The Minister of Finance in his budget speech to Parliament on 21 February 2018 announced an increase in the VAT rate from 14% to 15% effective from 1 April 2018.
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.