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CR289 Mistake Mistake excluding consensus

CR289 Mistake Mistake excluding consensus – insurer mistakenly imposing exclusion wording which did not conform to its intention – on the particular facts complainant could not reasonably rely on impression that insurer had not made a mistake – contract void ab initio and premiums refundable Background 1. The complainant had a policy covering him for […]

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CR248 Mistake Mistake by insurer when furnishing maturity values

CR248 Mistake Mistake by insurer when furnishing maturity values – insured attempting to take advantage of obvious error. Background At regular intervals, but also on request, the insurance company provided the policyholder with detailed policy information schedules which featured, inter alia, estimated maturity values (EMV). These were values that the schedules stated were neither guaranteed […]

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CR197 Mistake by the insurer – enuring to the benefit of the complainant.

CR197 Mistake by the insurer – enuring to the benefit of the complainant. Background The complainant wrote to us to complaint about the policy maturity value because he believed the amount of R279941,59 which he was advised was the fund value on 22 November 2005 was understated. He also complained that he had received no […]

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CR196 Mistake – endowment portion of policy

CR196 Mistake – endowment portion of policy; insurer refusing at maturity date to pay value stated as minimum maturity value on policy schedule, alleging that the stated value was a mistake. Background In 1990 the complainant took out a 15 year term policy providing a mix of benefits: life cover, family funeral benefit, personal catastrophe […]

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CR195 Mistake – settlement – Income plan (back-to-back)

CR195 Mistake – settlement – Income plan (back-to-back) – insurer refusing at maturity date to pay value stated as minimum maturity value on endowment policy, alleging that the stated value was a reasonable mistake (iustus error), alternatively that the actual contract differed from that evidenced by the policy. Background In June 1995, when he was […]

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CR152 Mistake – investment instruction not followed – was the client’s lack of action excusable?

CR152 Mistake – investment instruction not followed – was the client’s lack of action excusable? Facts The complainant retired from a pension fund during December 2000. His benefit was worth R536 777. He relied on the advice of an insurance agent and decided to invest with an insurer. His pension benefit was first transferred to […]

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CR151 Mistake – snatching at the bargain – bona fide error by insurer

CR151 Mistake – snatching at the bargain – bona fide error by insurer Feite Die klaer het in 1971 en 1973 onderskeidelik twee polisse by die versekeraar uitgeneem. Gedurende die tydperk wat hy die polisse besit het, het die versekeraar hom gereeld ingelig oor bonusverklarings en die stand van die polisse. Sedert 2001 het hy […]

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CR10 Conclusion of contract – mistake

CR10 Conclusion of contract – mistake – insurance company’s error at underwriting stage – whether the insurance company should abide by their mistake and maintain the contract as originally issued. Facts In December 2003 Mr and Mrs A applied to X Company for a health insurance policy. Mr A’s application was accepted but with a […]

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