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Insurance Ombudsman South Africa | Life, Home, Car and Business Insurance

Insurance Ombudsman South Africa | Life, Home, Car and Business Insurance

Insurance Ombudsman South Africa
Insurance Ombudsman South Africa

 

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 –

    • 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.

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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

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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.

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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.

 

 

 

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