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NCR refers JDG Trading (Pty) Ltd and JDG Micro Life Ltd to the NCT Print E-mail
Thursday, 06 August 2015

The National Credit Regulator (NCR) has announced that it has referred JDG Trading (Pty) Ltd (JDG Trading) and JDG Micro Life Ltd (JDG Micro Life) to the National Consumer Tribunal (NCT). The referral follows an investigation by the NCR which revealed that JDG Trading and JDG Micro Life have:-

·       Sold retrenchment and occupational disability covers to pensioners and consumers receiving government social grants such as old age, disability, foster care and child support grants; and
·       Charged most of these consumers a club fee.
 
The sale of retrenchment and occupational disability covers to pensioners and consumers receiving government social grants is unreasonable and imposes an unreasonable cost to such consumers because they cannot claim benefits under these covers.
 
The NCR also found that in some instances consumers receiving disability grants from the government on account of their permanent disability were sold occupational disability cover at a time when they were already certified permanently disabled.
 
The NCR is asking the Tribunal to order JDG Trading and JDG Micro Life amongst others to:
 
·       Refund the affected consumers the retrenchment and occupational disability premiums and club fees charged from 2007 to date;
·       Interdict JDG Trading and JDG Micro Life from continuing with their unlawful conduct;
·       Order an audit to be conducted into JDG Trading; and
·       Impose an appropriate fine.
 
The NCR will continue to conduct industry-wide investigations on credit insurance practices to protect vulnerable consumers such as pensioners and the disabled.

(Source - NCR Media Release)
 

 

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