provide technical support to the Registrar of Long-Term Insurance
providing assistance and comments as requested.
that insurers are solvent on the minimum basis as prescribed in the Act.
that insures are financially sound on the statutory valuation method and that
policyholders’ reasonable expectations are being met.
statutory actuaries (in association with the Actuarial Society of South Africa),
ensuring that the applicant has the required professional standing and
the Insurance Department on on-site and other compliance visits.
assist in the maintenance of statutory returns regulated entities must complete.
in special statistical surveys on regulated entities.
advice to stakeholders
as insurers or their advisors on practice, product design and valuation
requirements that will be acceptable to the FSB.
an appropriate regulatory environment
or revise Directives and guidelines, which will assist the industry or the
Insurance department in meeting the requirements of the Board. The latter will
include enhancing the fair treatment of consumers.
complaints from policyholders which relate to actuarial issues or which have
in various industry associations.
relationships with senior officials in industry associations and government
involvement in working group meetings with industry
technical training to the Insurance Department on request