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Insurer
If you are an Insurer and you would like to register in order to view submissions made by the intermediary, you can do so by following the link below. If you are already registered and you have been authorised, you can login on the left.
Please note that you do not have to be an saia member to be able to register.
Register
Intermediary
If you are an intermediary and you would like to register in order to submit a Section 8(2)(d) application form, you can do so by following the link below. If you are already registerd and you have been authorised, you can login on the left.
Please note that you do not have to be a saia member to be able to register.
Register
What is OSIP
The South African Insurance Association (SAIA) promotes the short-term insurance industry in order to create an awareness and understanding of the industry, and to add value to all stakeholders.
The South African Insurance Association (SAIA) represents most of the short-term insurance companies in South Africa and is authorised to negotiate on their behalf. The Association has more than 50 members from the short term insurance sector.
The Financial Services Board is a unique independent institution established by statute to oversee the South African Non-Banking Financial Services Industry in the public interest. The FSB is committed to promote and maintain a sound financial investment environment in South Africa. The above two institutions have joined in a partnership to establish a programme facilitating the RV7 Application Process.
OSIP is the acronym for Offshore Insurance Placements.
It is the initiative of the South African Insurance Association and The Financial Services Board to assist brokers with the processing of RV7 applications under Section 8 (2) (d) of the Short Term Insurance Act.
Document Downloads
Links
Osip Related News
New OSIP system on the way
We are happy to announce that a completely revamped OSIP system is on the way which will make the process smoother and easier.
We will post process on this website.
MPI Process
There are two processes when placing insurance cover offshore : The MPI and the OSIP process.
The Sect 8(2)(d) process on OSIP is used where the intermediary (registered FSP in South Africa) assist the policyholder with the placement of insurance offshore and all the relevant documentation must be uploaded on OSIP. There is a fee payable for processing of the application.
The MPI process is used when the client does not make use of an intermediary and approaches the Bank. The application form and required documentation gets sent to me directly via mail by the banks Exchange Control Department.
Short term insurance fees
I, Caroline Dey da Silva, Deputy Registrar of Short-Term Insurance, hereby under section 3(2)(b)(i) and 3(4) of Short-term Insurance Act, 1998 (Act No. 53 of 1998), -
(a) prescribe the fees set out in the Schedule; and
(b) repeal Insurance (ST) Notice 1 of 2017.
This Insurance (ST) Notice will come into operation on 1 April 2018.
Read the Board Notice.
IMPORTANT NOTICE!: New price structure 2017
The Deputy Registrar of Short-term Insurance on 27 January 2017 approved the short-term insurance fees in Insurance (ST) Notice 1 of 2017.
This Insurance (ST) Notice was published on the website (www.fsb.co.za) and will come into operation on 1 April 2017.
In terms of the notice the prescribed fee for section 8(2)(d) applications has been increased to R1355.00 effective 1 April 2017.
Read the Board Notice.
IMPORTANT NOTICE!: New price structure
Please note that the fees and the price structure have changed and will be in effect. For details please read the pdf document, which you can download under document downloads section (top right), on this page.
Many thanks
UMA Directory 2012
Out now. Click the image to read it.
IMPORTANT NOTICE!: New price structure
Please note that the fees and the price structure have changed. For details please read the pdf document, which you can download under document downloads section (top right), on this page.
Many thanks
Web Browser
Using an outdated browser makes your computer unsafe, websites will be slower and will not be displayed in their full glory. Below is a list of the latest versions of the major browsers around. You can also learn about alternative browsers that
may fit you even better than the one you are currently using. All browsers are free and install in minutes. You can have more then one browser on your computer. If you want you can even install all of them and choose the one you like most.
Below are links to the browsers:
To learn more visitbrowsehappy.com andwhatbrowser.org
Server Move
Please note that we moved the OSIP server. The move should not affect anyone. However if you do find an error please contact us.
Many thanks
New Website Launch
The new website is up and running. Please do your submission through this website. Should you require to view one of your old submissions, you can do so viathe old website.