What Are the Responsibilities of an Insurance Company?
When you take out an insurance policy, you enter into a contract of trust. Just as you are expected to pay your premium and disclose accurate information, your insurer also has key responsibilities.
What Insurers Are Expected to Do:
- Honor valid claims within a reasonable timeframe
- Provide clear policy wording that explains what is covered (and what is not)
- Disclose all costs and exclusions before you sign up
- Act fairly and transparently in all dealings
- Comply with South African regulations and Treating Customers Fairly (TCF) principles
Good insurers are more than just financial service providers — they are safety nets when life takes a turn. That is why Lore Wealth only partners with trusted, FSCA-compliant insurers who have a strong claims record and client reputation.
Of noteworthy is that Insurance is a promise. A responsible insurer keeps that promise when it matters most.