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High insurance claim rejections worry NBFIRA

Friday, December 01, 2023 | 520 Views |

Providing oversight: Motshidisi at the Brokers Connect conference

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) has expressed stern concerns over a rise in cases of insurance brokers failing to arrange appropriate cover for clients, leading to rejections of claims.

According to NBFIRA, complaints against brokers mainly stem from poor advisory services rendered to clients which leads to underinsurance of risks.

Speaking at Botswana Life’s recent Broker Connect Conference, NBFIRA CEO, Oduetse Motshidisi said that despite strong financial returns for brokers over the years, there is a growing trend of complaints filed against them. These complaints intensified this year between the months of March and October, he said.

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High insurance claim rejections worry NBFIRA

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) has expressed stern concerns over a rise in cases of insurance brokers failing to arrange appropriate cover for clients, leading to rejections of claims.

'Face to face with the man who tried to kill me'

Couple perishes in suspected 'passion killing' crash

Dimajwe duo arrested after missing assault victim found buried

Dikoloti escapes injury after car hits cow

Five-year-old boy hospitalised after road accident in Mogoditshane

UDC rolls out 'promised' child grant

BPF to hold first youth, women congresses

Of borrowed wheels and brand new GD6

Two-tier education system demands action