Certain losses suffered. Neither the Insurer nor we are responsible for any losses suffered because of the following reasons: • Delays in the processing or the rejection of your policy application for reasons beyond our control. These include: - if your financial planning business does not get approval from the Financial Services Conduct Authority; or acts beyond the scope of his or her FSCA license; or is not approved by us; or gives us unauthorised instructions; - if you, the person you have authorised, or your financial planner provides us with incorrect or incomplete information, or fails to disclose or misleads us as to a material fact; - if a third party does anything illegal or invalid or does not do something that they should have done; - if we cannot verify the bank account details you provide through our bank verification process; and any legal requirements, unit trust portfolio limits, timing standards, administrative practices and procedures that apply to your policy. • You do not get your spouse’s permission to act on your investment if you are married in community of property. • A person you have authorised acting beyond the scope of their authority or if they do not send you correspondence we or the Insurer send them. • Changes in tax or other laws that affect your policy. • The failure or delay of any website, networks, electronic or mechanical devices, or any other form of communication we use to process instructions about your policy. • Us providing your financial planner with details about your policy. • Us doing business telephonically, electronically or by fax. • Us acting on incorrect information where you failed to notify us of any changes to such information • The investment or market risk of your policy. • The delayed sale of units in a unit trust portfolio due to ring-fencing. ‘Ring-fencing’ is the separation and delayed sale of units in a unit trust portfolio. It is caused by the large sale of units above a certain threshold in a unit trust portfolio. Ring- fencing makes sure that the sale of a large number of units will not force us to sell the underlying assets at a price which could negatively affect investors in the unit trust portfolio. We may delay the payment or reinvestment of the proceeds of the sale of units.
