PA Public Awareness Archives - Page 2 of 2

Guidance under the Regulations in terms of section 27(2) of the Disaster Management Act, 2002

Posted on 19/04/2020 by vrapto19/04/2020

Publish Date: 2020-04-19

Category: PA Public Awareness

Attachments:

19 April 2020 Guidance re Joint Directive in terms of Disaster Mangement Regs_final.pdf

Link full article: Guidance under the Regulations in terms of section 27(2) of the Disaster Management Act, 2002

Joint Communication 1 of 2020 COVID-19 Regulatory response

Posted on 17/04/2020 by vrapto17/04/2020

Publish Date: 2020-04-17

Category: PA Public Awareness

Objective of this Joint Communication

This Joint Communication sets out the responses by the Prudential Authority and the Financial Sector Conduct Authority (jointly referred to as the Authorities) to the COVID-19 pandemic as well as the observed and predicted impacts it has, or is likely to have, on the South African economy and specifically the South African insurance industry.

The Authorities recognise that the COVID-19 pandemic has, and will have, an impact on insurers’ financial soundness. The Authorities nevertheless expect that insurers will continue to operate in a prudent and socially responsible manner. To this end, this Communication outlines some of the regulatory and supervisory actions that the Authorities are implementing to alleviate the stress caused by COVID-19 on insurers.

The Authorities will continue to engage with the insurance industry and all other relevant stakeholders during this time, and may issue further communication or implement any additional actions as and when necessary as further analysis on the impact of COVID-19 is conducted, especially in relation to the impact on the financial soundness of South African insurers.

Attachments:

Joint Communication 1 of 2020 COVID-19 Regulatory response.pdf

Link full article: Joint Communication 1 of 2020 COVID-19 Regulatory response