What is Short-Term Insurer?
A short-term insurance policy provides cover against loss, damage, liabilities, and more. You pay a premium (either monthly or annually) to an insurance company which in return provides the cover to compensate you when you suffer a loss on insured items.
Top Short-Term Insurers In South Africa
| # | Insurer | Score |
|---|---|---|
| 1 | Virseker | 82.5 |
| 2 | Momentum | 81.5 |
| Industry Average | 81.2 | |
| 3 | Absa | 77.3 |
| 4 | Old Mutual Insure | 77.1 |
| 5 | Auto & Genral | 74.8 |
| 6 | Standard Bank | 74.7 |
| 7 | Nedbank | 67.9 |
Who is the best short-term insurer in South Africa?
Santam
Santam ranked top performing insurer
The South African Customer Satisfaction Index (SAcsi) is an industry benchmark survey and it has just revealed that for the third consecutive year, Santam is the top insurer in South Africa.
Who is the biggest short-term insurance in South Africa?
Santam
South Africa’s largest short-term insurance company
Not only has Santam been around for over 100 years, but the company also ensures risks to the value of over R4 trillion, with over 85 of the top 100 JSE-listed companies trusting Santam to protect their businesses.
How many short-term insurance companies are there in South Africa?
Report Coverage
The report profiles 49 short-term insurance companies, ranging from industry leader Santam which has almost 20% of the market, to direct insurance company, 1Life Insurance (RF) Ltd.
Who regulates short-term insurance in South Africa?
The Minister of Finance has under section 70 of the Short-Term Insurance Act, 1998, made the regulations set out in the Schedule
. [General Note: The references to “Registrar” substituted with “Authority” by reg 2 of GoN 1018, G. 41946.] [Rep by reg 4 of GoN 1018 in G.