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FAIS Ombud continues to raise awareness in communities

 The Office of the Ombud for Financial Services Providers will continue with its consumer awareness drive on various community radio stations in the Kwazulu-Natal region from 28 – 29 July 2022. The consumer awareness drive is one of the steps taken by the Office of the FAIS Ombud to spread the word to the public on its existence and its role. 

The upcoming campaign is intended to reach communities and members of the public that have been affected by the floods following the heavy rains in the KZN province early this year. Furthermore, the campaign will focus on advising complainants whose claims have been rejected because of the advice or recommendation provided or due to a failure by the Financial Service Providers (FSP) to provide the complainant with material disclosures that would have enabled the complainants to make informed decisions. 

The Office of the FAIS Ombud has seen a number of complaints in respect of claims that were rejected due to, for example, the flooding experienced in KZN, and each matter is being considered in respect of its own specific merits to determine whether material disclosures were made and, if not, whether the FSPs failure to make the relevant material disclosures and subsequent failure to have placed the complainant in a position to make an informed decision contributed to the ultimate financial prejudice suffered by the complainant. 

By way of example, for claims that have been rejected as a result of wear and tear, defective workmanship, or where the property has not been constructed in accordance with the relevant building regulations etc., this Office will consider a number of factors, mainly whether the complainant was informed of these material exclusions applicable to the policy that would have provided the complainant with the ability to make an informed decision, and have been in a position to have possibly mitigated any losses incurred. 

The Office will be interviewed on Radio Khwezi, Izwi Lomzanzi FM and Highway Radio, and each interview will include question-and-answer sessions. Members of the public are encouraged to tune into these radio stations to gain knowledge and understanding of their rights as consumers. 

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