2019-07-24

FSCA Communication 6 of 2019 (Insurance) Draft Exemption Notice

The FSCA has published a draft exemption notice proposing to exempt microinsurers offering credit life policies from Rule 2A.10.1 of the Policyholder Protection Rules (Long-term Insurance), 2017. This exemption permits policy benefits to be paid directly to credit providers, resolving a practical compliance challenge for microinsurance products structured around financial liabilities. The regulator invites written public comments on the draft notice until late August 2019 to ensure the exemption aligns with public interest and statutory objectives.

South Africa

Financial Sector Conduct Authority

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