Treating customers fairly : Group Life Insurance in South African Law
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University of Pretoria
Abstract
This dissertation explores how employees in South Africa who have group life insurance schemes are protected by the law. Unlike individual life insurance, where the insured person is the policyholder, group life insurance involves a contract between the employer and the insurer, with employees as the beneficiaries. This unique arrangement often leaves employees, who are the most vulnerable party, inadequately protected under existing laws. Having seen firsthand the complexities of insurance contracts and the potential gaps in employee coverage, I was motivated to explore how South Africa’s fragmented insurance regulations impact the fairness and security of group life policies.
The current legal landscape in South Africa is assessed, focusing on whether the regulatory measures in place offer sufficient safeguards for employees. I also compare South African laws with those in Canada, which has made significant strides toward prioritizing consumer protection and fairness, especially in the realm of group life insurance. The research addresses three key questions: the benefits of group life insurance, the regulatory protections in South Africa, and how Canadian legal frameworks might inform potential improvements in South African law.
Description
Dissertation (LLM (Insurance Law and Governance))--University of Pretoria, 2024.
Keywords
UCTD, Sustainable Development Goals (SDGs), Canadian Insurance Law, South African Law, Insurance law, Group Life Insurance, Treating customers fairly (TCF)
Sustainable Development Goals
SDG-08: Decent work and economic growth
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