The Financial Sector Conduct Authority (FSCA) recently issued a statement that the collection of blood samples as part of underwriting for new business does not qualify as an essential service and must be avoided during the national lockdown. The statement was supported by the long-term insurance members of the Association for Savings and Investment South Africa (ASISA). ASISA indicated in a press release that the collection and testing of blood samples as well as medical assessments for insurance purposes should not be conducted during the lockdown period as:
- Laboratories should be allowed to focus on activities to combat the virus and other essential medical activities.
- Doctors or nurses consulting multiple clients would increase the risk of spreading the virus and therefore goes against all social distancing guidelines.
ASISA advises that there are still a number of options available to consumers wanting to buy risk cover during the lockdown period which are discussed in their press release.
The FSCA’s statement reminded Insurers to limit essential services to those necessary to support the functioning of the financial system and maintaining a stable financial environment. The FSCA further warned that any person who continues to engage in non- essential services will be subjected to appropriate regulatory action.
Read the media releases by clicking on the links below: