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There has been “an exceptional increase” in the number of insurance complaints in 2022

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Edite Teixeira-Mckinon, Deputy Ombudsman for Short-term Insurance

With the lifting of the dark clouds of the Covid-19 pandemic, the Ombudsman for Long-term Insurance (OLTI) and the Ombudsman for Short-term Insurance (OSTI) are looking ahead and planning with optimism.

In a joint Annual Report, which has as its theme “Shaping our Tomorrow”, the two insurance dispute resolution schemes said a highlight of the 2022 financial year has been the granting of recognition as industry ombud schemes by the Ombud Council in terms of section 194 of the Financial Sector Regulation Act, 2017.

The Ombud Council has a mandate to oversee financial ombud schemes and assist in ensuring that they provide customers with access to affordable, effective, independent and fair alternative dispute resolution processes for financial complaints.

Much progress was also made during the year towards the amalgamation of the four industry ombud schemes, being OLTI, OSTI, the Ombudsman for Banking Services and the Credit Ombud.
23 May 2023 4PM English South Africa Business News · Investing

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