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REGULATED INDUSTRIES
- Article from:
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Accountancy SA
- Article date:
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June 1, 2008
- Author:
- Kubuya, Patrick
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Copyright informationCopyright South African Institute of Chartered Accountants Jun 2008. Provided by ProQuest LLC. (Hide copyright information)
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DRAFT LONG-TERM INSURANCE REGULATIONS FOR COMMENT
The National Treasury has released for comment draft regulations in terms of the Long Term Insurance Act, 1998, dealing with revised commission structures and enhanced consumer protection for contractual savings products of the life insurance industry.
The regulations follow extensive consultation on the 2006 National Treasury discussion paper, Contractual Savings in the Life Insurance Industry, which outlined a range of proposals designed to give effect to the December 2005 Statement of Intent signed between the Minister of Finance and the life insurance industry, aimed at improving the value provided by contractual savings products, such ...