• Short-Term Insurance Act, 1998 (Act No. 53 of 1998)
    • Notice No. 1191 of 1998
    • Act
    • 1. Definitions
    • 1A. Relationship between Act and Financial Sector Regulation Act
    • 1B. Regulatory instruments
    • Part I : Administration of Act
      • 2. Exercise of powers and performance of duties by Authority
      • 3. General provisions concerning Registrar
      • 4. Special provisions concerning Registrar and his or her powers
      • 5. [Repealed] Annual report
      • 6. [Repealed] Advisory Committee on Short-term Insurance
    • Part II : Registration of short-term insurers
      • 7. [Repealed] Registration required in order to carry on short-term insurance business
      • 8. Prohibition on performance of certain acts, by certain persons
      • 9. [Repealed] Application for registration
      • 10. [Repealed] Conditions of registration
      • 11. [Repealed] Variation of registration conditions
      • 12. [Repealed] Registrar may under certain circumstances prohibit short-term insurers from carrying on business
      • 13. [Repealed] Termination of registration
      • 14. [Repealed] Deregistration of short-term insurers as companies
    • [Repealed] Part III : Business and administration of short-term insurers
      • 15. [Repealed] Limitation on business
      • 15A. [Repealed] Reinsurers carrying on reinsurance business only, authorised to enter into certain short-term policies directly
      • 16. [Repealed] Head office and public officer
      • 17. [Repealed] Financial year and name
      • 18. [Repealed] Notification of certain appointments, terminations and resignations
      • 19. [Repealed] Auditor
      • 19A. [Repealed] Statutory actuary
      • 20. [Repealed] Appointment of auditor or statutory actuary by Registrar
      • 21. [Repealed] Removal of appointees who are not fit and proper
      • 22. [Repealed] Audit committee
      • 23. [Repealed] Preference shares, debentures, share capital and share warrants
      • 24. [Repealed] Registration of shares in name of nominee
      • 25. [Repealed] Limitation on control and certain shareholding or other interest in short-term insurers
      • 26. [Repealed] Furnishing of information concerning shareholders
      • 27. [Repealed] Effect of registration of shares contrary to Act
    • Part IV : Returns to Authority
      • 28. [Repealed] Maintenance of financially sound condition
      • 29. [Repealed] Assets
      • 30. [Repealed] Kinds and spread of assets
      • 31. [Repealed] Deeming provisions concerning assets
      • 32. [Repealed] Liabilities
      • 33. [Repealed] Prohibitions concerning assets and certain liabilities
      • 34. [Repealed] Failure to maintain financially sound condition
      • 35. Returns to Registrar
    • Part V : Compromise, arrangement, amalgamation and transfer
      • 36. [Repealed] Approval of Registrar required for compromise, arrangement, amalgamation or transfer
      • 37. [Repealed] Application to Registrar
      • 38. [Repealed] Conditions of approval
      • 39. [Repealed] Approved transaction, and certain exemptions
    • Part VI : Business rescue and winding-up of short-term insurers
      • 40. [Repealed] Business rescue
      • 41. [Repealed] Winding-up
      • 42. [Repealed] Voluntary winding-up
    • Part VII : Business practice, policies and policyholder protection
      • Business practice
        • 43. Free choice in certain circumstances
        • 44. Prohibition on inducements
        • 45. Collection of premiums by intermediaries
        • 46. Receipt for premium paid in cash
        • 47. Copy of policy and inspection of policy records
        • 48. Limitation of remuneration
        • 48A. Binder agreements
        • 49. [Repealed] Undesirable business practice
      • Policies
        • 50. Limitation on policy benefits in the event of death of unborn or of certain minors
        • 51. Voidness of certain provisions of agreements relating to short-term policies
        • 52. Short-term policies entered into by certain minors
        • 53. Misrepresentation and failure to disclose material information
        • 54. Validity of contracts
      • Policyholder protection
        • 55. Protection of policyholders
    • Part VIII : Provisions relating to Lloyd’s
      • 56. General
      • 57. Appointment of Lloyd's representative
      • 58. Returns to Registrar
      • 59. Claims against Lloyd's underwriters
      • 60. Security to be furnished by or on behalf of Lloyd's underwriters
      • 61. Payment of certain claims against Lloyd's underwriters
      • 62. Imposition of prohibition on activities of Lloyd's underwriters
      • 63. Application of other provisions of Act to Lloyd's
    • Part IX : Offences and penalties
      • 64. Offences by persons other than short-term insurers
      • 65. [Repealed] Offences by short-term insurers
      • 66. Penalty for failure to furnish Registrar with returns etc
    • Part X : Transitional and general provisions
      • Transitional provisions
        • 67. [Repealed] Continued registration of existing insurers
        • 68. [Repealed] Certain existing insurers to cease long-term insurance business or to separate it from short-term insurance business
      • General provisions
        • 69. [Repealed] Special provisions concerning short-term insurers that are not public companies
        • 70. Regulations
        • 71. Savings
        • 72. Interpretation of certain references in existing laws
        • 73. Short title and commencement
    • Schedules
      • [Repealed] Schedule 1 (Section 29) : Kinds of Assets
        • 1. [Repealed] Requirement for claim to be asset, and definitions
        • 2. [Repealed] Derivatives
        • 3. [Repealed] Kinds of assets
      • [Repealed] Schedule 2 (Sections 29, 30 and 32) : Method of calculation of value of assets and liabilities
        • Part I : Valuation of assets
          • 1. [Repealed] Amounts to be disregarded
          • 2. [Repealed] Calculation of values
          • 3. [Repealed] Registrar may reject certain values
        • Part II : Valuation of liabilities
          • 4. [Repealed] Method of calculating amount referred to in section 32(1)(a)(ii)
          • 5. [Repealed] Method of calculating unearned premium provision
          • 6. [Repealed] Method of calculating contingency reserve
          • 7. [Repealed] Determination of value of other liabilities
      • Schedule 3 (Section 60) : Lloyd's security
        • 1. Definition of "South African short-term insurance policy"
        • 2. Security to be provided to Lloyd's South African Trust
        • 3. By whom and manner in which security to be provided
        • 4. Amount of security
        • 5. Contributions and withdrawal of surplus
        • 6. Investment of trust funds
        • 7. Returns in respect of Lloyd's South African Trust
        • 8. Transitional provisions
  • Regulations
    • Regulations under the Short-term Insurance Act, 1998 (Act No. 53 of 1998)
      • Notice No. R. 1493 of 1998
      • Part 1 : Interpretation
        • 1.1 Definitions
      • [Deleted] Part 2 : Calculation of Additional Amounts of Assets
      • Part 3 : Limitation on Assets (Section 30)
        • 3.1 Definitions
        • 3.2 General limitation on assets
        • 3.3 Assets of asset-holding intermediary
        • 3.4 Liabilities of asset-holding intermediary
        • 3.5 Deemed assets
        • 3.6 Futures contracts
        • 3.7 Option contracts
        • 3.8 Other derivatives
        • Table : Categories of Assets 
      • Part 4 : Authorisation of and Requirements for Collection of Premiums by Intermediaries (Section 45)
        • 4.1 Authorisation
        • 4.2 Requirements in respect of security
        • 4.3 Requirements in respect of payment to short-term insurers
        • 4.4 Returns by authorised persons
      • Part 5 : Remuneration (Section 48)
        • Part 5A : Limitation on Remuneration for Services as Intermediary 
          • 5.1 General limitations
          • 5.2 Time and payment of commission
          • 5.3 Maximum commission payable
          • 5.4 Reversal of commission
          • 5.5 Commission when short-term policy comprises combination of policies
        • Part 5B : Limitation on Remuneration for Binder Functions
          • 5.6 Application of this Part 5B, and definitions
          • 5.7 General principles for determining remuneration for binder functions
          • 5.8 Remuneration that may be offered or provided to a binder holder
          • 5.9 Participation by a binder holder in profits attributable to the policies referred to in a binder agreement
        • Part 5C : Notification of Certain Arrangements with Independent Intermediaries or Representatives
          • 5.10 Definitions
          • 5.11 Notification of certain arrangements with independent intermediaries or representatives
      • Part 6 : Binder Agreements
        • 6.1 Definitions and interpretation
        • 6.2 Requirements, limitations and prohibitions relating to binder holders
        • 6.2A Governance and oversight requirements
        • 6.3 Requirements, limitations and prohibitions relating to binder agreements
        • 6.4 Requirements, limitations and prohibitions relating to any consideration that may be offered or provided to a binder holder, and any participation by a binder holder in profits attributable to the policies referred to in a binder agreement
        • 6.5 Exemption
        • 6.6 Reporting requirements
        • 6.7 [Deleted] Transitional arrangements
      • Part 7 : Contracts Identified as Accident and Health Policies under Section 70(2A)(a) of the Act
        • 7.1 Definitions and interpretation 
        • 7.2 Categories and types of contracts identified as accident and health policies
        • 7.3 Limitations applicable to category 1, 2 and 3 contracts
        • 7.4 Requirements applicable to all contracts referred to in the Table under regulation 7.2(1)
        • 7.5 Marketing and disclosures requirements
        • 7.6 Reporting requirements
        • 7.7 Transitional arrangements
      • Part 8 : Title and Commencement
  • Notices
    • Notice No. 386 of 2009 -Amendment of Board Notice 80 of 2008 : Returns to Authority
    • Notice No. 295 of 2010 -Amendment of Board Notice 80 of 2008 and Notice No. 386 of 2009: Returns to Authority
    • Penalty for failure to furnish Authority with Returns etc.
      • [Repealed] Notice No. 118 of 2021
      • [Repealed] Notice No. 1792 of 2022
      • [Repealed] Notice No. 3079 of 2023
      • [Repealed] Notice No. 4404 of 2024
      • Notice No. 5885 of 2025
  • Board Notices
    • Appointment of Members of the Short-Term Insurance Advisory Committee
      • Board Notice 76 of 2006 
    • Documents which a person may inspect or obtain a copy of or an extract from in terms of Section 3(4) of the Short-term Insurance Act, 1998 ("the Act")
      • Board Notice 94 of 2007 : Documents which a person may inspect
    • Returns by Short-term Insurers to Registrar
      • Board Notice 80 of 2008
    • Internal Model Application Process: Pre-Application Pre-Application Assessment Fees
      • Board Notice 188 of 2011
      • 1. Definitions
      • 2. Fees
      • 3. Payment of fees
    • Notice on Governance and Risk Management Framework for Insurers, 2014
      • Board Notice 158 of 2014
      • Part 1 : Interpretation
        • 1. Definitions
      • Part 2 : Governance and Risk Management Framework - General
        • 2. Governance framework
      • Part 3 : Composition, Governance and Structure of the Board of Directors
        • Board of directors
          • 3. Composition and governance of board of directors
          • 4. Roles and responsibilities of board of directors
          • 5. Duties of each director
        • Committees of the board
          • 6. Structure of board of directors
          • 7. Risk and remuneration committees
          • 8. Risk committee
          • 9. Remuneration committee
      • Part 4 : Risk Management System
        • 10. Risk management system
        • 11. Overall risk management policy
        • 12. Fit and proper policy
        • 13. Remuneration policy
        • 14. Asset-liability management policy
        • 15. Investment policy
        • 16. Underwriting risk management policy
        • 17. Reinsurance and other forms of risk transfer policy
        • 18. Liquidity risk management policy
        • 19. Concentration risk management policy
        • 20. Operational risk management policy
        • 21. Insurance fraud risk management policy
      • Part 5 : Internal Control System
        • 22. Internal control system
        • 23. General requirements for control functions
        • 24. Risk management function
        • 25. Compliance function
        • 26. Internal audit function
        • 27. Actuarial function
        • 28. Head of control function
      • Part 6 : General
        • 29. Title and commencement
        • 30. Transitional provisions
    • Notice on  Fit and Proper Requirements, 2015
      • Board Notice 158 of 2015
      • Part 1 : Interpretation
        • 1. Definitions
      • Part 2 : Matters to be taken into account by Authority
        • 2.
      • Part 3 : Fit and Proper Requirements for Director, Senior Manager, Public Officer, Auditor or Statutory Actuary
        • 3. Requirements relating to competency
        • 4. Requirements relating to integrity
        • 5. Auditor that is a firm
      • Part 4 : Fit and Proper Requirements for Significant Owners
        • 6. Requirements relating to financial standing
        • 7. Requirements relating to integrity
      • Part 5 : General
        • 8. Title and commencement
  • Policyholder Protection Rules
    • [Repealed] Policyholder Protection Rules, (old)
      • Policyholder Protection Rules
      • Response Paper on consultation on the Policyholder Protection Rules
      • 1. Definitions
      • 2. Purpose of the Rules
      • 3. Summary
      • 4. Principles of disclosures
      • 5. Obligatory disclosures
      • 6. Other disclosures
      • 7. Standardised disclosures
      • 8. Consequences of non-compliance
      • 9. Void provisions
      • 10. Format of policies
      • 11. Additional duties of insurers and independent intermediaries
      • 12. Termination and alteration of certain agreements and relationships
      • 13. Records, monitoring systems and annual reports
      • 14. Special duties of Registrar
      • 15. Waiver of rights
      • 16. Penalties
      • 17. Title
    • [Repealed] Policyholder Protection Rules (Short-Term Insurance), 2004
      • Notice No. R. 1128 of 2004
      • 1. Definitions
      • 2. Objective and Application of Rules
      • 3. Application
      • 4. Basic Rules for Direct Marketers
      • 5. Rules on Void Provisionsand Format
      • 6. General format of policies
      • 7. Agreements
      • 8. Waiver of rights
      • 9. Penalties
      • 10. Repeal and transitional provision
      • 11. Short title and commencement
    • Policyholder Protection Rules (Short-Term Insurance), 2017
      • Notice No. 1433 of 2017
      • Chapter 1 : Interpretation
        • 1. Application
        • 2. Definitions
      • Chapter 2 : Fair Treatment of Policyholders
        • Rule 1 : Requirements for the Fair Treatment of Policyholders
      • Chapter 3 : Products
        • Rule 2 : Product Design
        • Rule 2A : Microinsurance Product Standards
          • 2A.1 Definitions
          • 2A.2 Application
          • 2A.3 Use of the term "microinsurance"
          • 2A.4 Structure of policy benefits
          • 2A.5 Variation and renewal of a microinsurance policy
          • 2A.6 Waiting periods
          • 2A.7 Exclusions
          • 2A.8 Excesses
          • 2A.9 Claims
          • 2A.10 Reinstatement
          • 2A.11 General
          • 2A.12 Reporting of a new product
        • Rule 3 : Consumer Credit and Credit Life Insurance
        • Rule 4 : Cooling-Off Rights
        • Rule 5 : Negative Option Selection of Policy Terms or Conditions
        • Rule 6 : Determining Premiums and Excesses
        • Rule 7 : Void Provisions
        • Rule 8 : Waiver of Rights
        • Rule 9 : Signing of Blank or Uncompleted Forms
      • Chapter 4 : Advertising and Disclosure 
        • Rule 10 : Advertising
        • Rule 11 : Disclosure 
      • Chapter 5 : Intermediation and Distribution
        • Rule 12 : Arrangements with Intermediaries and Other Persons
      • Chapter 6 : Product Performance and Acceptable Service
        • Rule 13 : Data Management
        • Rule 14 : On-going Review of Product Performance
        • Rule 15 : Periods of Grace
        • Rule 16 : Record Keeping
      • Chapter 7 : No Unreasonable Post-Sale Barriers
        • Rule 17 : Claims Management
        • Rule 18 : Complaints Management
        • Rule 19 : Termination of Policies
      • Chapter 8 : Administration
  • Prescribed Fees
    • Notice of Prescribed Fees, 2003
    • Notice of Prescribed Fees, 2004
    • Notice of Prescribed Fees, BN 2005
    • Notice of Prescribed Fees, BN 27 of 2010
      • Prescribed requirements for calculation of value of assets, liabilities and capital adequacy requirement of short-term insurers
      • 1. Definitions
      • 2. General requirements
      • 3. Valuation of assets
      • 4. Valuation of liabilities
      • 5. Calculation of the capital adequacy requirement
      • 6. Process for the relaxation of a provision
      • 7. Short title
    • Notice of Prescribed Fees, BN 28 of 2010
      • Prescribed requirements for the minimum amount of the security to be provided by or on behalf of a Lloyd's underwriter
    • Notice of Prescribed fees, BN 54 OF 2010
      • Prescribed short-term insurance fees