Ombuds claw back R386m

MOST COMPLAINTS ON CAR COVER, REPUDIATED CLAIMS AS CONSUMERS SCORE

- Ina Opperman

The ombud for longterm insurance and the ombud for shortterm insurance got R386 456 756 back insurance in 2023 for consumers who complained about about companies.

Half of the long-term insurance complaints were over denied claims, while about 40% of the short-term insurance complaints were about car insurance.

This week the ombudsman for long-term insurance (OLTI) and the ombudsman for short-term insurance (OSTI) published their last joint annual report before they are incorporated into the National Financial Ombud Scheme South Africa (NFO).

The NFO is an industry ombud scheme merging four separate former industry ombud schemes: the ombuds for banking services (OBS), credit (CO), OLTI and OSTI.

Complaints about long-term insurance

OLTI recovered R283 084 553 for complainants in lump sums, an average of R1.14million per working day.