A loophole in the Long-Term Insurance Act’s Policy Protection Rules has been the subject of a long-running court case involving funeral policy underwriter KGA Life, which has been ordered by court to release intermediary Multisure Corporation from its contract.
Legal loophole: Insurance intermediaries unknowingly lose control and ownership of clients fullstopcom.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fullstopcom.com Daily Mail and Mail on Sunday newspapers.
Stellenbosch-based insurance underwriter KGA Life is accused of bullying tactics to hold onto the business it receives from insurance intermediaries, including funeral parlours, which the company underwrites.
An insurance brokerage and its former underwriter are in court, fighting about who has the right to keep funeral policy premiums deducted from Sassa beneficiaries.
Both sides awaiting reserved judgment in funeral policy insurance cover case iol.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iol.co.za Daily Mail and Mail on Sunday newspapers.