Regulatory Changes in 2020

Many of the legislative changes we have been hearing about for some time have now come into effect and are going to impact how we do business, both on new schemes and with existing clients. New requirements are asking all financial service providers to know more about the parties they conduct business with. At the… Read More

Regulatory Changes

Recent and upcoming regulatory changes, and particularly changes to the Policyholder Protection Rules and the Financial Intelligence Centre Amendment Act, are shifting the industry to a risk based (rather than a rules based) approach to compliance and to how we conduct business in general. One area impacted by these changes is the due diligence process… Read More

Policyholder Protection Rule Changes

Parts of the amendments to the Policyholder Protection Rules will require insurers to communicate directly with members of group risk schemes in future and in order to assist them in fulfilling this regulatory requirement, TSA has been tasked with making changes to the data that we collect on a monthly basis. In addition to the… Read More

Member Benefit Statements & Schedules – Process Enhancement

Annual member benefit statements and schedules are an important and valuable part of the service we provide.  We are always looking for areas of improvement whilst at the same time making sure we keep to our aim of making insurance personal. With this in mind we have made some enhancements to our system and the… Read More

Core and Flex Cover

Following on from our last issue on compulsory membership, we wanted to provide some more information on core and flex. This type of structure still requires compulsory membership for the core benefit but allows an additional level of death cover, which is voluntary.  This allows an employee to assess their needs and apply for extra cover based… Read More

Compulsory Membership

Recently we have had a number of instances in which the issue of compulsory membership on group schemes has come into question, both at quote stage and unfortunately even later. The principle of compulsory membership exists in order to mitigate the risk of anti-selection against the insurer and it requires that the qualification criteria for… Read More

Direct access to us

We are pleased to inform you that you will now be able to contact people directly at TSA should you know the extension of the person you wish to speak to. All extension numbers will now appear in the signature of TSA staff’s emails but you can see a list of our extension numbers here should… Read More

TSA Complaints Process

In accordance with the FAIS Act (Financial Advisory and Intermediary Services Act) we have introduced a TSA Complaints Process document, per insurer, which provides the client, broker or member with a better understanding of the process of how a complaint can be directed and who to contact.  We will be sending out these documents going… Read More

Key Group Risk Requirements Series – Conclusion

We hope the series showcasing each team’s requirements at each stage in the life cycle of a group scheme has been helpful.  If there’s anything else you would like us to cover, be it on this topic or another, please let us know. Thank you and regards, The TSA Team You’ll find all back issues… Read More

Key Requirements Series – Reviews

The rates that are accepted initially are annually renewable and so our reviews team perform a reassessment, across insurers, as part of our service to brokers every year: Their main requirement is: Acknowledgment (from the broker or client) that timeous communication of the review details has been made which results in payment of premiums, using… Read More

Social Media Company Social Media Consultant