The Financial Sector Conduct Authority (FSCA) is aware that a group of funeral parlours have undertaken to shut down the collection of deceased bodies from private and public health facilities. The Authority notes that this strike may indirectly impact individuals who have taken out funeral policies through funeral parlours who have embarked on the strike.
All funeral policies are required by law to be underwritten by a licensed insurer. Customers are therefore advised that their policies and relevant services of insurers remain operational during the protest action. All channels to obtain funeral policy related services during this period remain open
If a funeral policy is intermediated by a funeral undertaker that is on strike the claimants can contact the insurer directly to ensure that valid claims are settled.
The FSCA regulates and supervises the activities of funeral parlours in respect of funeral insurance policies and will engage the funeral industry on matters that affect them from a financial sector regulatory point of view. The FSCA does not regulate the activities of undertakers, but rather the funeral insurance policies associated with those undertakers.
The FSCA will engage with the funeral industry to ensure clients are treated fairly and the industry continues to act in clients’ best interests. For more information on this matter, please email Jacky.Huma@fsca.co.za