SQ
Stephen Q
1 reviews | Active since Feb 2025
12 Feb 2025, 21:06
OUTsurance Roulette : Life-endangering insurance by OUTsurance
OUTsurance took our insurance premiums from my Mother for about 15-years to a total value of about a R 1 million. We have only claimed for last year for an accident which was not our fault - knock-on accident from other car. OUTsurance used an unauthorised body repairer who ignored replacing a R 3000.00 - ie OUTsurance of our lives. We had an accident because the same part was not *****ed on and totally ignored. At portfolio-scale OUTsurance's life-endangering repairs adds up to R 1 billion of misstated financial and up to R 6 billion in misstated shareholder value. We warn any long-term customers that your lives and long-term premiums are literally in danger.
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Replies (4)SQ
Stephen Q's updateReviewer Update
12 Feb 2025, 21:14There also seems to be collusion between big-Insurance ( OUTsurance ) and big-Ombudsman ...
SQ
Stephen Q's update12 Feb 2025, 21:14
Reviewer Update
There also seems to be collusion between big-Insurance ( OUTsurance ) and big-Ombudsman ...
OUTsurance's replyOfficial
13 Feb 2025, 09:48Good day Stephen,
We wish to advise you that we have received notice that this matter is being dealt with through the National Financial Ombud Scheme.
We wish to advise you that we have received notice that this matter is being dealt with through the National Financial Ombud Scheme.
In light of the above, the National Financial Ombud Scheme has been placed on record relating to this matter and all correspondence relating hereto should be addressed to their office accordingly.
Regards,
The OUTsurance Team
Regards,
The OUTsurance Team
OUTsurance's reply13 Feb 2025, 09:48
Official
Good day Stephen,
We wish to advise you that we have received notice that this matter is being dealt with through the National Financial Ombud Scheme.
We wish to advise you that we have received notice that this matter is being dealt with through the National Financial Ombud Scheme.
In light of the above, the National Financial Ombud Scheme has been placed on record relating to this matter and all correspondence relating hereto should be addressed to their office accordingly.
Regards,
The OUTsurance Team
Regards,
The OUTsurance Team
SQ
Stephen Q's updateReviewer Update
13 Feb 2025, 10:24I am afraid there are many points outside the jurisdiction of the National Financial Ombud Scheme ( NFOSA ), as written by the Ombudsman.
We are engaging the balance of issues outside the NFOSA's jurisdiction.
So, this is about the separate issues from the NFOSA, as admitted by the Ombudsman.
We are engaging the balance of issues outside the NFOSA's jurisdiction.
So, this is about the separate issues from the NFOSA, as admitted by the Ombudsman.
SQ
Stephen Q's update13 Feb 2025, 10:24
Reviewer Update
I am afraid there are many points outside the jurisdiction of the National Financial Ombud Scheme ( NFOSA ), as written by the Ombudsman.
We are engaging the balance of issues outside the NFOSA's jurisdiction.
So, this is about the separate issues from the NFOSA, as admitted by the Ombudsman.
We are engaging the balance of issues outside the NFOSA's jurisdiction.
So, this is about the separate issues from the NFOSA, as admitted by the Ombudsman.
SQ
Stephen Q's updateReviewer Update
13 Feb 2025, 21:44We are using the hellopeter platform as National Financial Ombudsman of South Africa ( NFOSA ) has limited powers to the complete scope of our problems and challenges with OUTsurance.
We are clear that the following problems and challenges will remain after the NFOSA process ends on presumably 18th February 2025.
It is clear that the following problems and issues lie outside the powers ( “ ultra vires “ ), beyond the scope and beyond the jurisdiction of the NFOSA to resolve.
The following issues and challenges based on publicly available or, accessed ; non-insider and often first hand information will remain post the NFOSA process -
The following issues and challenges will remain post NFOSA process.
Publicly available, non-insider and first-hand information
Please note that we are in the hellopeter platform because a few points and mechanisms which are out of National Financial Ombudsman of South Africa ( NFOSA ) jurisdiction, beyond the NFOSA’s scope do not work as shared by Ombudsman K.P. and the NFOSA office, for example -
1. Consumer Product-Safety and Service-Safety
Access to safe ( insurance ) products and safe ( insurance ) services lies outside and beyond the powers and jurisdiction of Ombudsman K.P. of the NFOSA.
Please refer to some of the following product-safety and service-safety checks and balances :
• Automobile Association ( AA ) - https://aa.co.za
• South African Bureau of Standards ( SABS ) - https://www.sabs.co.za
• Nissan South Africa ( Nissan ) - https://www.nissan.co.za
Ombudsman K.P. of the NFOSA cannot enforce customer-product and customer-service safety, and; we have not signed away our rights to safe parts and services.
Whiles OUTsurance has the rights to sources cheap low-cost parts and services, we have equal rights to safe-parts and safe-services.
Ombudsman K.P. of the NFOSA cannot enforce nor weigh on the above customer-product safety or, customer-service safety.
2. Director’s Personal Liability
The directors of OUTsurance are bound by the Companys’ Act of South Africa ( link below ) and Ombudsman K.P. of the NFOSA does not have the powers to rule over director’s personal liability in relation to knowingly and wilfully endangering customer lives.
• Companys’ Act & Director’s Personal Liability - https://www.gov.za/documents/companies-act
• IoD South Africa - https://www.iodsa.co.za
3. Auditable Avoided Safety Costs & Life-Endangerment
We showed calculations and proof to OUTsurance’s auditors ( KPMG ) on how OUTsurance’s business model avoided safety repair and how that grosses up to financial misstating, book inflation.
It was made clear to use that Ombudsman K.P. of the NFOSA does not have the audit skills or, powers ( such as KPMG - https://kpmg.com/za/en/home.html )
Based on OUTsurance’s “ internal models “ ( T.P., OUTsurance ) it is clear that this cost avoidance grosses-up to class action-scale and compounded liabilities corporate book scale in the billions of Rands.
We are confident that Ombudsman K.P. of the NFOSA does not have powers to review and opinion on class action-scale liabilities of OUTsurance.
4. Stock Exchange Regulator
OUTsurance has regulated and trading share at the Johannesburg Stock Exchange ( JSE ) which is a financial checks and balance regulator.
JSE has a Surveillance Unit which checks for inflated financial statements or, misstating the financial liabilities of a company, subject to, an impartial external auditor.
We are clear that Ombudsman K.P. of the NFOSA is not an auditor nor, trained to assess share price inflation – please refer to the following JSE link - https://www.jse.co.za/regulation/markets-regulation/market-regulation
5. Law Enforcement Agencies
OUTsurance’s directors’ behaviour has been odd and life-endangering.
The have attracted the following South African Police Service ( SAPS - https://www.saps.gov.za ) Occurrence Book ( OB ) entries :
• SAPS Boschkop OB Entry – 666 / 02 / 2025 : OUTsurance Director’s Personal Liability, Notice to Directors & Stonewalling
• SAPS Boschkop OB Entry – 915 / 01 / 2025 : OUTsurance Executive Badgering
• SAPS Boschkop OB Entry – 384 / 12 / 2024 : Misleading OUTsurance & Defective Panel-beating
We are clear that Ombudsman K.P. of the NFOSA does not have the powers to take occurrence book entries nor, enforce lawful directors’ personal liabilities nor, caution directors on endangering customers with endangering participants of the motor and insurance sector.
Conclusion
We count at least five “ checks and balances “, regulators, institutions, verification agencies, standards agencies or, which Ombudsman K.P. of the NFOSA cannot overreach in their market, civil nor ******** duties.
SQ
Stephen Q's update13 Feb 2025, 21:44
Reviewer Update
We are using the hellopeter platform as National Financial Ombudsman of South Africa ( NFOSA ) has limited powers to the complete scope of our problems and challenges with OUTsurance.
We are clear that the following problems and challenges will remain after the NFOSA process ends on presumably 18th February 2025.
It is clear that the following problems and issues lie outside the powers ( “ ultra vires “ ), beyond the scope and beyond the jurisdiction of the NFOSA to resolve.
The following issues and challenges based on publicly available or, accessed ; non-insider and often first hand information will remain post the NFOSA process -
The following issues and challenges will remain post NFOSA process.
Publicly available, non-insider and first-hand information
Please note that we are in the hellopeter platform because a few points and mechanisms which are out of National Financial Ombudsman of South Africa ( NFOSA ) jurisdiction, beyond the NFOSA’s scope do not work as shared by Ombudsman K.P. and the NFOSA office, for example -
1. Consumer Product-Safety and Service-Safety
Access to safe ( insurance ) products and safe ( insurance ) services lies outside and beyond the powers and jurisdiction of Ombudsman K.P. of the NFOSA.
Please refer to some of the following product-safety and service-safety checks and balances :
• Automobile Association ( AA ) - https://aa.co.za
• South African Bureau of Standards ( SABS ) - https://www.sabs.co.za
• Nissan South Africa ( Nissan ) - https://www.nissan.co.za
Ombudsman K.P. of the NFOSA cannot enforce customer-product and customer-service safety, and; we have not signed away our rights to safe parts and services.
Whiles OUTsurance has the rights to sources cheap low-cost parts and services, we have equal rights to safe-parts and safe-services.
Ombudsman K.P. of the NFOSA cannot enforce nor weigh on the above customer-product safety or, customer-service safety.
2. Director’s Personal Liability
The directors of OUTsurance are bound by the Companys’ Act of South Africa ( link below ) and Ombudsman K.P. of the NFOSA does not have the powers to rule over director’s personal liability in relation to knowingly and wilfully endangering customer lives.
• Companys’ Act & Director’s Personal Liability - https://www.gov.za/documents/companies-act
• IoD South Africa - https://www.iodsa.co.za
3. Auditable Avoided Safety Costs & Life-Endangerment
We showed calculations and proof to OUTsurance’s auditors ( KPMG ) on how OUTsurance’s business model avoided safety repair and how that grosses up to financial misstating, book inflation.
It was made clear to use that Ombudsman K.P. of the NFOSA does not have the audit skills or, powers ( such as KPMG - https://kpmg.com/za/en/home.html )
Based on OUTsurance’s “ internal models “ ( T.P., OUTsurance ) it is clear that this cost avoidance grosses-up to class action-scale and compounded liabilities corporate book scale in the billions of Rands.
We are confident that Ombudsman K.P. of the NFOSA does not have powers to review and opinion on class action-scale liabilities of OUTsurance.
4. Stock Exchange Regulator
OUTsurance has regulated and trading share at the Johannesburg Stock Exchange ( JSE ) which is a financial checks and balance regulator.
JSE has a Surveillance Unit which checks for inflated financial statements or, misstating the financial liabilities of a company, subject to, an impartial external auditor.
We are clear that Ombudsman K.P. of the NFOSA is not an auditor nor, trained to assess share price inflation – please refer to the following JSE link - https://www.jse.co.za/regulation/markets-regulation/market-regulation
5. Law Enforcement Agencies
OUTsurance’s directors’ behaviour has been odd and life-endangering.
The have attracted the following South African Police Service ( SAPS - https://www.saps.gov.za ) Occurrence Book ( OB ) entries :
• SAPS Boschkop OB Entry – 666 / 02 / 2025 : OUTsurance Director’s Personal Liability, Notice to Directors & Stonewalling
• SAPS Boschkop OB Entry – 915 / 01 / 2025 : OUTsurance Executive Badgering
• SAPS Boschkop OB Entry – 384 / 12 / 2024 : Misleading OUTsurance & Defective Panel-beating
We are clear that Ombudsman K.P. of the NFOSA does not have the powers to take occurrence book entries nor, enforce lawful directors’ personal liabilities nor, caution directors on endangering customers with endangering participants of the motor and insurance sector.
Conclusion
We count at least five “ checks and balances “, regulators, institutions, verification agencies, standards agencies or, which Ombudsman K.P. of the NFOSA cannot overreach in their market, civil nor ******** duties.