1. Advisory Council – 14 November Short Term Executive Committee presentation Prepared by Barry Taylor

2. Short Term Exco feedback 2011 Creating and building relationships with Industry Stakeholders: Acknowledge the work and responsiveness of the Short Term Committees. − SAIA − SAUMA − SASRIA − Association of Loss Adjusters − Council for Banking − FSB

3. Short Term Exco feedback 2011 Insurance Laws Amendment Act – Binder Agreements: − Achieved remuneration for Administration activities for Intermediaries − Promulgation expected for 1st January 2012 − 1 year alignment

4. Short Term Exco feedback 2011 – On track for 2012 implementation of phase 1 Short Term Insurance Data Exchange (STRIDE) – Acknowledgement – Arnold van der Linde – Support of ILAA regulations for transfer of data and Solvency Assessment Management requirements – Company with independent Insurer and Intermediary Shareholders formed

5. Short Term Exco feedback 2011 – Gives comfort to client protection Section 8(2) “Approval to place Short Term business offshore – Finalised and clearly defined protocols for placing business in non approved markets

6. Short Term Exco feedback 2011 – Focus on Environmental, Social and Governance initiatives where the Insurance Industry can influence. Directive 156.A.i (ST) - Section 45 STIA – restriction on Interest earnings: – Had the offending paragraph on interest earnings removed. SASRIA – increase on commission Strategic Forum for Sustainability of Insurance: – Partnered SAIA in setting up this forum.

7. Short Term Exco feedback 2012 – Rigid enforcement by FSB Regulatory initiatives: – Treating Customers Fairly (TCF) – first phases – RE qualifications – Definitions of all streams of revenue earnings and also of “services as intermediary” and “intermediary services”

8. Short Term Exco feedback 2012 – Visible “value add” of intermediary role to clients. Critical Success Factors: Industry take ownership – Education and Development: The need for “Innovation and Pro-active” alternative solutions to keep ahead of the game Uniformed Industry approach – New regimen of communication and delivery to clients

9. Short Term Exco feedback QUESTIONS???