Long Term Insurance Act, 1998 (Act No. 52 of 1998)RulesPolicyholder Protection Rules (Long-term Insurance), 2017Chapter 6 : Product Performance and Acceptable ServiceRule 14 : On-going review of product performance |
| 14.1 | An insurer must on an ongoing basis monitor a product, related distribution methods and disclosure documents after the launch of a product, taking into account any event that could materially affect the potential risk to targeted policyholders or members, in order to assess whether— |
| (a) | the product and its related disclosure documents remain consistent with the needs of targeted policyholders and continue to deliver fair outcomes for policyholders and members; and |
| (b) | the distribution method or methods remain appropriate. |
| 14.2 | An insurer must, where any shortcomings are identified through the assessment contemplated in rule 14.1 or in any other manner, implement appropriate remedial action to address such shortcomings. |