Скачать или смотреть Webinar - Business Interruption Insurance claim update with ICA & FSCA

Insurance Claim Africa's CEO - Mr. Ryan Woolley will give us a detailed update on the progress made and the way forward.

More than a year has passed since the TTA first began to gather information on member's Business Interruption insurance claim challenges and consult with insurance industry and legal professionals to obtain assistance and advice for members.

The fifth of June will also mark the anniversary of the TTA's first meeting with the Financial Services Conduct Authority (FSCA) to lobby for government intervention to support insured parties relating to rejected Business Interruption claims related to COVID-19.

The purpose of today’s webinar is to provide you with an update on the progress made on claims processing, quantum negotiations and the court action which is still underway relating to this matter.

In order to provide you with these updates we are privileged to have with us Ryan Wooley, the CEO of Insurance Claims Africa who is representing a large number of you in your cases against the insurers, as well as Makgompi Raphasha, who is the Head: Insurers & Retirement Fund Benefit Administrators Supervision for the Financial Sector Conduct Authority (FSCA) which is the market conduct regulator of financial institutions which includes insurers and brokers.

Ryan will give us an update on the progress of claims and cases against the various insurers followed by Makgompi who will provide answers to some of the questions regarding the oversight of the FSCA.

Ryan, ICA is well publicized as Southern Africa's largest independent insurance claims experts working only for the insured parties in matters of claims and quantum calculation and negotiation. We have worked closely with you and your firm to consolidate efforts to ensure that insured parties are treated fairly in the matter of Business Interruption claims related to COVID-19 and I would like to thank you for all of the support and time you have given us as an association to assist us to assist our members.

The Financial Sector Conduct Authority (FSCA) is responsible for market conduct regulation and supervision and it aims to enhance and support the efficiency and integrity of financial markets and to protect financial customers by promoting their fair treatment by financial institutions such as insurers. The FSCA has made a number of statements to insurers during the year that has passed and I would like to hand over to you now to give us an overview of the FSCA’s view on the progress of this matter addressing the questions we have already received:
1. Have FSCA noted any Insurers that are still not accepting liability for these claims;
2. How is FSCA monitoring Insurers adherence to judgements and FSCA directives?
3. Is FSCA aware of the bottleneck / delays in the adjustment of these claims?
4. Is FSCA receiving an increased level of complaints pertaining to Insurers treatment of customers?
5. Is FSCA aware of the quantum disputes between Insurer and claimant pertaining to Salaries and Wages?
6. What are the key learnings the FSCA has gained form the BI / Covid 19 claims ?
7. Is there an increase in the claims against brokers PI cover – underinsurance, inadequate advice, errors in placements etc. ?
8. Did the Insurers who paid negligible relief payments complied with the spirit of their recommendations?
9. Do FSCA think that Insureds should receive a copy of loss adjuster reports as a standard procedure since it's their business and claim that is being portrayed to Insurers in these documents?