Conclusion: Regulatory and Process Changes Series

Over the last 6 weeks, we have sent out a Regulatory and Process Change series via our TSA Connect newsletter. These have provided you with information regarding the regulatory changes in our industry and how they will affect us going forward. All back issues of the TSA Connect can be found on our website blog or you… Read More

Regulatory and Process Changes Series – Non-Payment of Premiums

New regulations (15A of the PPR’s) have made the following up on non-payment of premiums a more formal and inflexible process that we all need to be aware of to ensure cover remains in place with the least amount of time and effort expended. Premiums are due at the end of the month for which… Read More

Important Reminder – Payment of premiums at this time

Firstly, we hope that you enjoyed a blessed and safe Easter weekend. The circumstances in which we find ourselves have highlighted the importance and value of those closest to us and so we hope you managed to enjoy meaningful time with them over the long weekend. The extension of the lockdown is going to make… Read More

Regulatory and Process Changes Series – Data Management

In order for insurers to comply with Rule 13 of the Policyholder Protection Rules, they require certain details of the members they cover on group schemes. We have always received member data on a monthly basis, but the additional requirements are around the insurer being able to communicate with members, should they have to, and… Read More

Regulatory and Process Changes Series – Disclosures

Our first two issues of this Regulatory and Process Change Series have related to new requirements when schemes are installed, specifically talking about identifying and communicating material differences and new FICA requirements. Rule 11 of the Policyholder Protection Rules (PPR’s) relates to disclosures before and during cover though, and it aims to ensure that all… Read More

Important Notice – Payment of premiums at this time

In these financially troubling times, many employers are asking what the requirements are in terms of premium payments for their group risk benefits. They would have seen what some banks have done with “payment holidays” on debt and you may have received requests for something similar on employee benefit contributions, including group risk premiums. After… Read More

Important Notice – Contact Details

We hope you are managing to respond to the impending lockdown safely and securely with minimum disruption to your businesses. We have successfully moved all TSA staff members to working from their homes until the 16th of April at least. The move to remote working should have very little impact, if any, on our service… Read More

TSA Special Announcement

To all our friends and valued customers, Firstly, we hope that you are managing yourselves and your businesses in the most responsible manner possible under these challenging circumstances. Last week we sent out communication from our insurers regarding Covid-19, which should provide policyholders with some peace of mind. Please encourage them to keep their premiums… Read More

COVID-19 Insurer Communication

We have had a number of queries relating to COVID-19 and the validity of a claim, should they arise and how the spread of COVID-19 may impact the cover that is provided by each of our insurers. We are pleased to be able to provide you with the communication from each of our insurers regarding… Read More

Regulatory and Process Changes Series – FICA Requirements

The Financial Intelligence Centre Act (FICA) was brought into legislation in 2001 and it includes control measures aimed at the detection and investigation of money laundering. As Accountable Institutions, we are all required to “know our clients”, meaning we should establish and verifying the identity of all clients prior to establishing a business relationship or… Read More

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