In terms of Section 75 of the Financial Services Regulatory Authority Act 2010, where a matter has not been settled between a Financial Services Provider and a Complainant the Ombudsman will make a decision with reference to what is fair and reasonable in all the circumstances of each case.
When the Ombudsman has determined a complaint, the Ombudsman gives a written statement of the decision to all the parties. The Determination gives the reasons for the decision; and it is certified and signed by the Ombudsman. The Ombudsman requires the Complainant to notify the Ombudsman in writing, whether the Complainant accepts or rejects the decision.
If the Complainant accepts the decision, it is final and binding on the parties. If, by the specified date, the complainant has not notified the Ombudsman of the acceptance or rejection of the decision, the Complainant shall be treated as having rejected it; and the Ombudsman notifies the Respondent of the outcome.
Below are some of the Determinations of the Ombudsman. The names of the parties have been changed to protect their identity.
| DATE | TYPE | DESCRIPTION | RESPONDENT | OUTCOME | DETERMINATION |
|---|---|---|---|---|---|
| 18th November, 2021 | Insurance | Insurance - Pepudiation of insurance claim - Arrear Premiums | The Insurance Company | Not Upheld | INS.M.33.2021.pdf |
| 14th October, 2021 | Savings and/or Credit | Savings and Credit - Loans advanced to member security thereof. | The SACCO | Partially Upheld | CC.H.15.2020.pdf |
| 13th October, 2021 | Investments | Insurance - Miselling of insurance product | The Insurance Company | Not Upheld | SEC.M.22.2021.pdf |
| 26th August, 2021 | Insurance | Insurance - Funeral Insurance facilitated by member SACCO | The Savings and Credit Cooperative Society | Not Upheld | INS.H.10.2021.pdf |
| 19th May, 2021 | Insurance | Insurance: Lapse of Insrance contract principle of utmost good faith underpins insurance contract. | THE INSURANCE COMPANY | Not Upheld | INS.M.01.2021.pdf |
| 23rd April, 2021 | Savings and/or Credit | Savings & Credit: Consumer Credit Act credit agreement and the unilateral alteration of contractual terms by the credit provider. | FINANCIAL SERVICES PROVIDER | Partially Upheld | CC.H.15.2020.pdf |
| 1st March, 2021 | Savings and/or Credit | Savings & Credit: Consumer Credit Act arrears on loan balance. | FINANCIAL SERVICES PROVIDER | Not Upheld | CC.M.25.2020.pdf |
| 20th January, 2021 | Retirement Funds | Retirement Funds: Distribution of death benefits and the provisions of section 33 of the Retirement Funds Act, 2005. | THE EMPLOYER FUND | Not Upheld | RF.H.20.2020.pdf |
| 8th January, 2021 | Savings and/or Credit | Savings & Credit: Purpose of Consumer Credit Act the importance of credit agreement and the rights of the parties as appears [from the contract]. | THE CREDIT PROVIDER | Not Upheld | CC.H.04.2020.pdf |
| 18th December, 2020 | Savings and/or Credit | Savings & Credit: Consequences of underpayment in repaying monies advanced extended period of loan and arrears | FINANCIAL SERVICE PROVIDER | Not Upheld | CC.M.16.2019.pdf |
| 30th November, 2020 | Retirement Funds | Retirement Fund: Withdrawal benefit where Member resigned Employer Optional Exit Scheme. | EMPLOYER STAFF PENSION FUND | Not Upheld | RF.M.18.2019.pdf |
| 6th November, 2020 | Savings and/or Credit | Savings & Credit: Membership of Complainant with Respondent Retirement and extension of Membership Outstanding balances on monies advanced | The Savings And Credit Cooperative Society Limited | Not Upheld | CC.M.22.2019.pdf |
| 6th November, 2020 | Insurance | Insurance: Claim against life policy where the cause of death was natural causes Acidental Death Benefit | LIFE INSURANCE (ESWATINI) LIMITED | Not Upheld | INS.M.12.2019.pdf |
| 4th May, 2018 | Retirement Funds | Retirement Fund- Pension- Miscalculation of Benefits- Withdrawal Benefit | Pension Fund, Fund Administrator, Employer | Not Upheld | RFM162017-040518.pdf |
| 9th April, 2018 | Insurance | Insurance- Short term- Motor Personal- Claim declined (policy terms not recognized or met) - Non-payment of premiums | Insurance Broker, Insurance Company, Financier Bank | Not Upheld | INSH62017-0904181.pdf |
| 1st December, 2017 | Savings and/or Credit | Savings & Credit - Incorrect interest or fees being charged | Credit Provider | Upheld | CCM242016-011217.pdf |
| 7th November, 2017 | Savings and/or Credit | Savings & Credit - Incorrect interest or fees being charged | Savings & Credit Cooperative Society | Upheld | CCM132016-071117.pdf |
| 15th August, 2016 | Retirement Funds | Retirement Fund - Pension- Distribution / improper exercise of discretion - Death benefit | Pension Fund | Upheld | RFAH62013-150816.pdf |
| 5th August, 2016 | Insurance | Insurance- Short term- Motor Personal- Claim declined (policy terms not recognized or met) - Claim repudiation | Insurance Company | Upheld | IAH32013-050816.pdf |
| 5th August, 2016 | Retirement Funds | Retirement Fund - Pension - Miscalculation of Benefits | Pension Fund, Employer | Upheld | RFAH372012-050816.pdf |