Insurance watchdogs return R331m to clients

The Ombudsman for Long-Lerm Insurance (OLTI) and the Ombudsman for Short-Term Insurance (OSTI) jointly placed more than R331m in the hands of complainants in 2022.

OLTI recovered R220.84m for complainants in lump sums and an additional R857,544 was awarded as compensation, according to a joint annual report issued on Tuesday by the two insurance dispute resolution schemes. OSTI recorded payments of R109.44m in the form of monetary benefit and value for consumers who approached the office for assistance
The Ombudsman for Long-Lerm Insurance (OLTI) and the Ombudsman for Short-Term Insurance (OSTI) jointly placed more than R331m in the hands of complainants in 2022.

OLTI recovered R220.84m for complainants in lump sums and an additional R857,544 was awarded as compensation, according to a joint annual report issued on Tuesday by the two insurance dispute resolution schemes. OSTI recorded payments of R109.44m in the form of monetary benefit and value for consumers who approached the office for assistance

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