Insurance Ombudsman South Africa | Life, Home, Car and Business Insurance
You are on Uni24.co.za, in this article, we bring to you everything to know about Insurance Ombudsman. An insurance company is any firm that provides a means by which risk is managed. Put it this way, Insurance Ombudsman sells packages that offer protection against unexpected life circumstances in relation to damages, loss, theft or any bad situation.
With that said, Insurance Ombudsman provides an array of insurance protection categorized into four groups. These are Insurance Ombudsman Motor Insurance, Insurance Ombudsman Health Insurance, Insurance Ombudsman Business Insurance, and Insurance Ombudsman Home Insurance. These are some but a few of the insurance services this company offers. Other areas of protection include Fire Insurance, Life Insurance, Liability Insurance, Travel Insurance, and many more.
About Insurance Ombudsman
We are an independent, non-profit industry ombud scheme
We provide the insuring public and the short term industry with a free, efficient and fair dispute resolution mechanism through an alternative dispute resolution process, applying the law and principles of fairness and equity.
We deal with personal lines short-term insurance disputes including disputes relating to –
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- Motor Insurance
- Homeowners insurance (buildings)
- Household insurance (contents)
- Cell phone insurance
- Travel insurance
- Disability insurance
- Credit protection insurance
We also deal with commercial insurance for small businesses and sole proprietors.
We are not a court of law. We examine the information and evidence placed before us by the parties to a dispute and make recommendations that are guided by the legal position and principles of fairness and equity.
We do not, nor are we empowered to, procure evidence or witnesses or investigate a complaint on behalf of one party.
We operate independently of both the Financial Sector Conduct Authority and the Prudential Authority in our adjudication process and dispute resolution process.
Services of Insurance Ombudsman
| ABSA Insurance Company Limited
Alexander Forbes Insurance Company Limited Aurora Insurance Company Limited Bidvest Insurance Limited Budget Insurance Company Limited Chubb Compass Insurance Company Limited Dial Direct Insurance Company Limited First For Woman Insurance Company Ltd GENRIC Insurance Company Hollard Insurance Company Limited Infiniti Specialised Insurance Limited King Price Insurance Legal Wise Lloyds South Africa MiWay Insurance Limited Monarch Insurance Company Limited Mutual and Federal Insurance Company Limited Nedbank Insurance Company Limited NMS Insurance Services (SA) Limited OUTsurance Insurance Company Limited Relyant Insurance Company Limited RMB Structured Insurance Safire Insurance Company Limited SASRIA SOC Limited Standard Insurance Limited Swiss Re Western National Insurance |
AIG South Africa Ltd
Allianz Global Corporate & Specialty SA Ltd Auto and General Insurance Company Limited Bryte Insurance Co Ltd Centriq Insurance Company Limited Clientele Legal Corporate Guarantee (South Africa) Limited Discovery Insure First Rand Short-Term Insurance Limited Guardrisk Insurance Company Limited Indequity Specialised Insurance Limited JDG Micro Insurance Limited Land Bank Insurance Company (SOC) Ltd – LBIC Lion of Africa Insurance Company Limited Lombard Insurance Group Momentum Insure Company Limited (Momentum Insure) Mutual & Federal Risk Financing National Insurers Limited New National Assurance Company Limited Old Mutual Health Insurance Limited PPS for Professionals Renasa Insurance Company Limited SA Home Loans Insurance Company Limited Santam Insurance Limited Shoprite Insurance company Sunderland Marine (Africa) Limited Vodacom Insurance Company Limited YardRisk Insurance Limited |
Contacts of Insurance Ombudsman
website: https://www.osti.co.za/
Tel: 011 726-8900 | Fax: 011 726-5501 | Sharecall: 0860 726 890 | E-mail: info@osti.co.za
1 Sturdee Avenue, First Floor, Block A, Rosebank, Johannesburg, 2196
Postal Address: PO Box 32334 Braamfontein, 2017
Frequently Asked Questions on Insurance in South Africa
How Much Is Car Insurance per Month in South Africa?
Car insurance in South Africa comes at an average cost of ZAR 1,322.00 per month. It should be noted that this varies greatly from one company to another the difference is the extent of insurance coverage you get and other premium services that come with the package. On a broader scale, the average monthly payment for car insurance is about 58 USD. Factors that influence your insurance premium include your driving history, your current location, and the coverage.
Does Life Insurance Pay for Suicidal Death?
The answer to this question varies from one insurance company to the other. However, most insurance companies include a suicide clause in their life insurance policies. This simply means that the first two years of a life insurance policy do not cover suicide-related circumstances. This is done to protect the firm from situations where a policyholder purposefully commits suicide with the hope of winning his family or beneficiaries’ payouts. But in the case of a life insurance policyholder whose been with the firm for more than 2 years, a death benefit is paid out to the beneficiaries.
What Is Short-Term Insurance?
Short-term insurance is any insurance policy that lasts for an hour, day, week or month. These policies are designed for very short-term needs. It should however be noted that some insurance companies offer longer durations under this package. Generally, they provide protection against theft, damage to goods or property or any other form of liability.
What Is Excess in Insurance?
Excess in insurance is generally the amount of money you have to pay to cover your insurance claim. This allows the insurance to pass on an agreed amount of the risk to the policyholder and is included in the policy. So in the event of an insurance claim, the beneficiary pays a portion of the claim cost and the insurance company pays the rest.
How Much Is House Insurance in South Africa?
How much is house insurance cost in South Africa? In South Africa, prices for home insurance vary from Rs 1,800 per square foot for basic projects and Rs 3,000 per sq ft for lavish projects. The coverage for house insurance extends to theft, fire, malicious or flooding, lightning, and storms. The two common coverage include Home Structure Insurance and Home Content Insurance.
Home structure insurance protects against damages to the structure of the building on the exterior or interior often resulting from storms, earthquakes, flooding, or lightning.
The home content insurance covers property theft within the house or damages to any property within the house.
