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CR296 Misrepresentation -Telesale of credit life policy

Misrepresentation CR296 Telesale of credit life policy – sales agent representing retrenchment benefit to be full amount owing on credit card – policy providing for a limited benefit– Appeal Tribunal ruling that insurer to be held to the representation Background 1. An agent of the insurer telephoned the complainant and offered to sell him a […]

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CR247 Mandate Misrepresentation by insurer that its financial adviser was independent

CR247 Mandate Misrepresentation by insurer that its financial adviser was independent—cancellation of contract of mandate Background The complainant took an early retirement package from his employer. His pension money was invested with insurer X. An employee of insurer X referred him to an “independent” financial adviser, Ms B, for advice on where to invest his […]

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CR230 Misrepresentation – Alleged misrepresentation

CR230 Misrepresentation – Alleged misrepresentation; poor disclosure/poor service; optional cash withdrawal reducing sum assured. Background The insured was in need of some extra money for his son’s wedding. He telephoned the insurer’s call centre on 14 December 2005, to ask whether he could take a loan on his ten-year old whole life policy. According to […]

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CR229 Misrepresentation – Post Contractual

CR229 Misrepresentation – Post Contractual Background The deceased was the policyholder of a policy, administered by the insurer, which provided for the payment of a percentage of the sum assured in respect of certain specified benefits. So for example, hospitalisation would be calculated as Day 1: General Ward 0.225%, High Care 2.70% or Intensive Care […]

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CR192 Misrepresentation

CR192 Misrepresentation – insured wrongly informed by insurer’s client service department that claim was covered – liability of insurer for post-contractual misrepresentation – compensatory award. Background The insured held a policy covering functional impairment. He had a stent implanted and enquired per e-mail from the insurer’s client service department whether his claim was covered. He […]

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CR147 Misrepresentation

CR147 Misrepresentation – offering of a conditional prize by insurer to proposer for insurance – effect on ensuing contract – section 45 of the LTIA Background The complainant contended that when he phoned about the insurer’s ‘cash on call’ scheme he was told that he had won a cash prize of R5000. That is why […]

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CR146 Allegation of misrepresentation concerning basic life cover

CR146 Allegation of misrepresentation concerning basic life cover – universal life policy – insurer neglecting duty imposed by policy Background The complainant had taken out two life policies during 1990 and 1991 respectively. At the time of applying for the life policies, the complainant was a 70 year old widow who anticipated that she would […]

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CR102 Key man insurance – misrepresentation by life insured

CR102 Key man insurance – misrepresentation by life insured – materiality of undisclosed facts – return of premium Background In December 2002 a co-operative took out whole life insurance on the life of their chief executive officer which policy included benefits in respect of dread disease and accidental death. The policyholder was under the impression […]

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CR37 Misrepresentation by independent broker prior to conclusion of contract

CR37 Misrepresentation by independent broker prior to conclusion of contract – complaint that quotations provided and representations made induced the complainant to enter into a contract which in a material respect did not comply with his requirement. Background It was common cause that the complainant approached the broker for advice on appropriate investment of a [...]

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