To provide for the registration of short-term insurers; for the control of certain activities of short-term insurers and intermediaries; and for matters connected therewith.

Latest Developments:

The Short-Term Insurance Act, 1998 (Act No. 53 of 1998), has been updated with the Repeal of N3079 of 24 February 2023 and new Penalty for failure to furnish Authority with Returns etc., as per Notice No. 4404 of GG50164 dated 23 February 2024.

The Short-Term Insurance Act, 1998 (Act No. 53 of 1998), has been updated with a Penalty notice for failure to furnish Authority with Returns etc., as per Notice No. 3079 of GG48104 dated 24 February 2023.

The Short-Term Insurance Act, 1998 (Act No. 53 of 1998), has been updated by the publication of Penalty for failure to furnish Authority with Returns etc. and the repeal of N118 of 2021, as per Notice No. 1792 of GG45954 dated 25 February 2022.

The Short-Term Insurance Act, 1998 (Act No. 53 of 1998) has been updated by the publication of Penalty for failure to furnish Authority with Returns etc. and the repeal of N206 (28 February 2020), as per Notice No. 118 of GG44185 dated 26 February 2021.

The Short-Term Insurance Act, 1998 (Act No. 53 of 1998) has been updated by amendments to Section 66(1)(a) of the Act : Penalty for Failure to Furnish Authority with Returns etc., as per Notice No. 206 of GG43050 dated 28 February 2020.

The Short-Term Insurance Act, 1998 (Act No. 53 of 1998) has been updated by the amendment of the Policyholder Protection Rules, Policyholder Protection Rules (Short-Term Insurance), 2017 as per Notice No. 996 of GG41928 dated 28 September 2018.

The Short-Term Insurance Act, 1998 (Act No. 53 of 1998) has been amended as per Schedule 4 of the Financial Sector Regulation Act, 2017. Gazette Number 41549 - Notice 169 dated 29 March 2018.

The Short-Term Insurance Act, 1998 (Act No. 53 of 1998) has been updated by an amendment to Section 66 (1) (b) as per Board Notice No. 25 of GG41456 dated 23 February 2018.

The Short-Term Insurance Act, 1998 (Act No. 53 of 1998) has been updated by amendments to Definitions - 1A. Relationship between Act and Financial Sector Regulation Act, as per GG 41388, Notice No. 32 dated 18 January 2018.

The Short-Term Insurance Act, 1998 (Act No. 53 of 1998) has been amended by Short-Term Insurance Act, 1998; Amendment of Regulations Made under Section 70, Government Gazette 41334, Notice No. 1439, dated 15 December 2017.

The Short-Term Insurance Act, 1998 (Act No. 53 of 1998) has been amended by Short-Term Insurance Act, 1998: Amendment of Regulations Made under Section 70, Government Gazette 40515, Notice No. 1582, dated 23 December 2016.

The Short-Term Insurance Act, 1998 (Act No. 53 of 1998) has been amended by Fit and Proper Requirements, 2015, Government Gazette 39095, Board Notice No. 158, dated 14 August 2015.

The Short-Term Insurance Act, 1998 (Act No. 53 of 1998) has been amended by Governance and Risk Management Framework For Insurers, 2014, Government Gazette 38357, Board Notice No. 158, dated 19 December 2014.

The Short-term Insurance Act, 1998 (Act No. 53 of 1998) has been amended by Financial Services Laws General Amendment Act, 2013. Government Gazette 37351 dated 18 February 2014.

The Short-term Insurance Act, 1998 (Act No. 53 of 1998) has had some corrections done.

The Short-term Insurance Act, 1998 (Act No. 53 of 1998) has been amended by Government Gazette 34767

The Short-Term Insurance Act, 1998 (Act No. 53 of 1998) has been amended by Short-Term Insurance Act, 1998: Amendment of Regulations Made under Section 70, Government Gazette 34877, Notice No. R. 1076, dated 23 December 2011.

The Act has been updated with Notice No. 1213 in Government Gazette No. 33881 dated 17 December 2010.

The Act has been updated by Board Notices 27 of 2010 and 28 of 2010, both printed in Government Gazette No. 32993 dated 1 March 2010, an amendment as well as Board Notice No. 54 – Prescribed Fees, in Government Gazette No. 33113 dated 16 April 2010.

The Act has been updated with Board Notice No. 80 of 2008, and an Amendment thereto, published in Government Gazette No. 32078 dated 7 April 2009;

The Act has been amended by the Insurance Laws Amendment Act, 2008 (Act No. 27 of 2008), as published in Government Gazette No. 31578 dated 5 November 2008.

The Act has been amended by the Financial Services Laws General Amendment Act, 2008 (Act No. 22 of 2008).

This Act has been updated by:-

Board Notice No. 76 of 2006 printed in Government Gazette No. 28946 dated 30 June 2006, and

Board Notice No. 94 of 2007 printed in Government Gazettes No. 30316 dated 28 September 2007.

The Act has been amended by the Insurance Amendment Act, 2003 (Act No. 17 of 2003) as published in Government Gazette No. 25230 dated 23 July 2003.

The following has been added:

Policyholder Protection Rules, 2004; Gazette No. 26853, Notice No. R. 1128, 30 October 2004;

Prescribed Fees, 2005; Gazette No. 28147, Notice No. 104 of 2005, 21 October 2005;

Prescribed Fees, 2004; Gazette No. 26693, Notice No. 91 of 2004, 27 August 2004;

Prescribed Fees, 2003; Gazette No. 25106, Notice No. 52 of 2003, 27 June 2003

Proposed Policyholder Protection Rules have been added to the Act as published in Gazette 20277 dated 9 July 1999.

The Short-term Insurance Act, 1998 has been published in Government Gazette 19277 Notice No. 1191, dated 23 September 1998, and has commenced as from 1 January 1999. The Regulations have been added as published in Government Gazette 19495 Notice No. 1493, dated 27 November 1998.