Public Service Commission Act, 1997
R 385
Short-Term Insurance Act, 1998 (Act No. 53 of 1998)Policyholder Protection RulesPart III : Details of Disclosure4. Principles of disclosures |
| 4.1) | The following shall apply to disclosure contemplated in these Rules: |
| a) | The independent intermediary or insurer as applicable shall bear the onus of proving that a disclosure has been made. |
| b) | Disclosure must be in plain language and set out so as to promote easy comprehension and to avoid uncertainty or confusion. |
| c) | Disclosure shall be made at an appropriate time and need only be made in respect of significant or material transaction and may be made in writing, orally, using any appropriate electronic media or by telefax. |
| d) | An insurer or independent intermediary as appropriate shall ensure that they confirm any disclosure to the policyholder in writing where requested or agreed to by the policyholder. |
| e) | Disclosures need not be duplicated or repeated to the same policyholder unless material or significant changes which will affect that policyholder have occurred or the transactions contemplated make it desirable or necessary. |
| f) | Disclosures may be validly made using standard forms or format. |
