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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.