FSCA Further Extension of Deadline for Insurers to Submit Information Request 4 of 2020

1 FSCA COMMUNICATION 2 OF 2021 (INS) Further extension of the deadline for submission of the information requested from insurers in terms of FSCA Information Request 4 of 2020 (INS) 1 PURPOSE The purpose of this Communication is to inform licensed insurers of the Financial Sector Conduct Authority’s (FSCA) decision to further extend the deadline to submit the information requested in terms of FSCA Information Request Notice 4 of 2020 (INS) (the Information Request)1 . 2 BACKGROUND 2.1 On 19 October 2020, the FSCA published the Information Request, requesting all licensed insurers to furnish the FSCA with information on add-on insurance policies sold to customers at the point-of-sale through motor dealerships or as part of vehicle financing arrangements, for the calendar years 2017, 2018 and 2019. Insurers were requested to submit the information through Conduct of Business – Data Upload Facility on the FSCA website by not later than 30 November 2020. 2.2 After issuing of the Information Request, the deadline for the submission of information was extended on the request on the industry to 31 January 2021 as communicated in the FSCA Communication 54 of 2020 (INS) 2 issued on 16 November 2020. 3 FURTHER EXTENSION OF DEADLINE TO SUBMIT THE INFORMATION REQUESTED 3.1 Shortly before the deadline of 31 January 2021 for the submission of information, the FSCA became aware of a technical error on the Conduct of Business – Data Upload Facility on the FSCA website. This resulted in insurers being unable to capture the required information through the online facility. The technical error has since been resolved. Consequently, the FSCA has decided to extend the deadline for the submission of the information requested to 28 February 2021 to allow insurers to properly capture and submit the information via the FSCA website. 3.2 Please note that only information submitted through the Conduct of Business – Data Upload Facility on the FSCA website will be accepted. Insurers who have submitted the information via email must resubmit the information by uploading it via the Data Upload Facility on the FSCA website. 1Available on the FSCA website under Regulatory Frameworks > Notices > Insurer /Micro insurer or by clicking on: https://www.fsca.co.za/Notices/FSCA%20Information%20Request%204%20of%202020%20(INS).zip 2 Available on the FSCA website under Regulatory Frameworks > Industry Communications or by clicking on: https://www.fsca.co.za/Regulatory%20Frameworks/Temp/FSCA%20Communication%2054%20of%202020 %20(INS).pdf

2 3.3 This extension applies to all licensed insurers required to submit the information requested in terms of the Information Request. 3.4 The FSCA Conduct of Business – Data Upload Facility can be accessed by clicking on the following link: https://www.fsca.co.za/Regulated%20Entities/Pages/ES-Insurer-Micro￾Insurer.aspx 4 ENQUIRIES For more information regarding this Communication, please contact the Market, Customer, and Inclusion Research Department at FSCA.research@fsca.co.za OB Makhubela Commissioner Date of publication: 12 February 2021