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FSB fines insurance companies
The Financial Services Board has fined several insurance companies for contravening the laws that govern the insurance industry and these include Hollard Insurance, African Unity, Nothemba Funeral and Financial Services and Gingirikani Marketing.
The fines ranged between R20 000 and R100 000. In addition the Premier Growth Group were fined R10 000 for not holding professional indemnity cover as required by law.
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