OSIP - Home

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.

News

Section 8(2)(d) applications communication 4 June 2026

Dear Stakeholder,

Please find the attached communication in respect of Section 8(2)(d) applications on how they will be dealt with going forward.

SHORT-TERM INSURANCE ACT, NO. 53 OF 1998 (THE ACT) – APPLICATIONS IN TERMS OF SECTION 8(2)(d) – OFFSHORE PLACEMENT OF INSURANCE BUSINESS

1 -- The Financial Sector Conduct Authority (FSCA) hereby confirms that applications submitted under section 8(2)(d) of the Act with incomplete information regarding cover types and/or other incorrect details will not be processed until and unless such information is provided accurately and in full.

2 -- Applicants that submit incomplete and/or inaccurate information will be required to resubmit the completed and corrected information in the form of a new application on the Offshore Insurance Placement (OSIP) system and repay the required fee.

3 -- Local insurers must be afforded the proper opportunity to view fully completed and accurate applications on the OSIP system with clearly defined cover types, dates and other relevant details for underwriting purposes.

4 -- Further to the above, the FSCA will no longer approve requests for changes or corrections to cover types or dates through amended approval letters. Requests for amendments to previously issued approvals, including requests for extensions of timelines, will be treated as new applications and will be subject to a re-assessment and the payment of an additional application fee.

5 -- Applicants are therefore urged to ensure that all applications in terms of section 8(2)(d) of the Act are clear, complete and accurate at the time of submission to avoid unnecessary delays and additional costs.

Read it here

New OSIP system launched 3 April 2026

We are happy to announce that a revamped OSIP system has been launched which will make the process smoother and easier.

Should you have any issue with the new system, find a bug (its just been launched 03/04/2026, there might be bugs see version number bottom right of page) or you wish to just leave a comment (all comments very welcome) please submit a ticket or directly email us.

New Fee Structure - October 2024 October 2024

Publication of FSCA General Notice 1 of 2024 – Determination of fees charged by the Financial Sector Conduct Authority

For details please read the documents below:

New Fee October 2024
FSCA Communication 36 of 2024 - General determination of fees
Annexure A: Consultation report, budget and estimates of expenditure and levies and fees proposal