In the news today: Momentum is reviewing three years of rejected claims, Treasury and the FSCA plan to review industry standards, and Fitch says reinsurers’ earnings will fall on California wildfire losses


Momentum reviews three years of rejected claims

The financial services and insurance group has reviewed claims on life policies dating back to 2016 in light of its recent decision to pay all violent crime claims, regardless of previous medical history.  READ MORE

Treasury hails Momentum policy change

Treasury says Momentum has taken a “positive step” in changing its life insurance policy. Treasury and the FSCA will continue to engage with the industry to review whether insurers are going “far enough” to treat customers fairly, says deputy director-general Ismail Momoniat.  READ MORE

Fitch: reinsurers’ earnings will fall on California wildfire losses

Fitch Ratings says that losses from the California wildlife will negatively affect the fourth-quarter earnings of companies with material property exposure in the state. However, the losses are expected to remain within the anticipated level.  READ MORE

GEMS to review court’s decision on cancer-drug case

The Government Employees medical scheme (Gems) is questioning the court’s decision that it should pay for treatment for stage-four brain cancer patient Dr Sipho Bvuma.  READ MORE

PSG’s Jannie Mouton resigns

Jannie Mouton, the founder of PSG, is stepping down as non-executive chair and director after 23 years. He revealed that he has been diagnosed with early-stage dementia.  READ MORE