Category: Insurance News / Short Term Insurance / SAIA / October 2005

Direct insurers apologise

Direct insurers have apologised to brokers for advertising that slates intermediaries, and pledged to halt this practice after the Insurance Brokers Council (IBC) raised concerns about conflicting advertising messages with the South African Insurance Association (SAIA). 

The IBC, independent broker representative body with some 4 000 members nationwide, maintained that these conflicts were damaging the industry as a whole. SAIA members include both direct insurers and companies that rely on brokers. 

Willem Roos of OUTsurance apologised for the offending adverts and pledged to pursue advertising that would no longer discredit the role of brokers. 

Justus van Pletzen, CEO of the IBC, said:  “We have always maintained that there is room for all the players in the industry, but brokers do not have the resources at their disposal to counter the vast amount of money that is being spent on spreading misinformation. This result will get us all closer to our goal of building consumer confidence in the insurance industry as a whole.”

Source:  Santam e-focus October 2005

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