Rule 19 of the Policyholder Protection Rules (PPR) became effective on 1 September. From this date, only intermediaries who meet PPR requirements may earn commission when a client replaces a risk plan with another risk plan.
The Policyholder Protection Rules (PPR) impose strict requirements for the disclosures in the FSCA-prescribed Risk Replacement Advice Record, among other things. As the insurer must confirm your RAR meets the requirements, you need to understand these requirements before advising on and submitting a risk replacement.
Please ensure you’ve read the following resources:
- Is your commission safe? Additional information about Rule 19
- Interim process regarding application forms and which replacement forms to use
- Training material (videos and frequently asked questions) for intermediaries.
If you still have queries once you’ve gone through the available documentation and training material, contact either the Distribution Support Desk at 0860 100 043 or email@example.com; or the Legal Support Desk at 0861 003 937 or firstname.lastname@example.org.
If you have any problems accessing the resources above, please paste this URL into your browser: https://sanport.sanlam.co.za/sanport/eng/info-centre/distribution/regulatory-requirements.aspx.