FMF Newsletter - 14 September 2022

14 September 2022


Brokers in the medical schemes market

Brokers are a feature of the medical schemes market and subject to extensive regulation in terms of the Medical Schemes Act, its regulations, and circulars issued by the Council for Medical Schemes (CMS). The CMS has announced it intends to revise Circular 20 of 2010, the prevailing circular dealing with brokers and has called for public comment. The closing date for comments is the end of August.  It is not intended to comment on the proposed changes at this stage.  This will come later.  This article discusses the position of brokers in the insurance markets in general with specific reference to medical schemes, laying the foundation for the subsequent comments.

Prof. Robert Vivian

South Africa ranks 99th out of 165 countries and territories included in the Economic Freedom of the World: 2022 Annual Report, released by the FMF in conjunction with Canada’s Fraser Institute. Last year, South Africa ranked 93rd and has therefore deteriorated further in the rankings. The country’s best ranking of 47th was achieved in 2000.
FMF hosted a virtual media briefing last week with a panel of speakers: 

  • Neil Emerick – overview of EFW index
  • Phumlani Majozi – size of government
  • Rex van Schalkwyk – legal system & property rights
  • Brian Kantor – access to sound money 
  • John Dludlu – regulation of credit, labour, and business

Our media release can be read HERE; the briefing video can be viewed HERE; for media coverage, click HERE.

 +27 11 884 0270 |

Help FMF promote the rule of law, personal liberty, and economic freedom become an individual member / donor HERE ... become a corporate member / donor HERE