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Short-Term Insurance Act, 1998 (Act No. 53 of 1998)

Policyholder Protection Rules

Policyholder Protection Rules (Short-Term Insurance), 2017

Chapter 3 : Products

Rule 2A : Microinsurance Product Standards

2A.11 General

 

When providing a service or similar benefit as a policy benefit under a microinsurance policy, a microinsurer or any person on behalf of a microinsurer may not charge the policyholder or member of a group scheme any administration or similar fee in respect of that service or similar benefit.

 

[Rule 2A.11 inserted by rule 6(b) of Notice No. 996, GG 41928, dated 28 September 2018]