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In order to activate your buildings and bond insurance you will need to accept the Financial Advisory and Intermediary Services (FAIS) Disclosures

The Financial Advisory and Intermediary Services (FAIS) Act was established to regulate the giving of advice and the provision of intermediary services. Overall, the act helps ensure that you our client is dealt with responsibly and professionally at all times. As an authorised FSP, Property Protector Financial Services (PPFS) - FSP No 216 is required by law to make certain disclosures in terms of the FAIS Act, which we require you to accept.

Read our FAIS Disclosures

ooba Bond and Buildings Protector - Financial Advisory and Intermediary Services Disclosures:

Property Protector Financial Services (FSP 216) - is a licensed financial services provider and is authorized to sell these short term and long term insurance products. Professional Indemnity cover is in place. These products are underwritten by Guardrisk Insurance (FSP 75) and Guardrisk Life (FSP 76) and the long term product is administered by Hollard. Property Protector Financial Services has a contract with Guardrisk Insurance and Guardrisk Life to distribute these products. Kindly note that this service is rendered without the benefit of a comprehensive needs analysis. The rights to the benefits under these policies will be ceded as collateral to the Lender.

Property Protector Financial Services (Pty) Ltd maintains an active Conflicts of Interest Management Policy which is available on the ooba website.

In order to prevent any conflict of interest you should know that Property Protector Financial Services has two associated companies the first, is MortgageSA Risk Services that owns shares in Guardrisk Insurance and Guardrisk Life and through this shareholding, MortgageSA Risk Services earns revenue from Guardrisk Insurance and Guardrisk Life based on the underwriting profits and losses achieved by Guardrisk. The second company is called ooba administration services with whom a non-mandated intermediary binder fee of 5% (Excl. VAT) for short term and 5% (Excl. VAT) for life of the premium per annum is paid for administration services, which is already included in the premium.

On the Buildings Protector product, the premiums have been calculated based on the risk information you have supplied to us during the voice recording. Important to note is that it is your responsibility to inform us of any changes which may influence the cover or premium. Please also note that the first payment may not necessarily be equal to one month’s premium as you will pay for the cover from the date the bond is registered. For example, if your bond is registered on 15th July, then you would make your first payment in the following month on the 1st August for the August cover, plus the 15 days of cover you received in July.

You will be receiving the full details of exclusions that will be provided to you in the confirmation letters and your policy schedules will be sent to you and your registering attorney via email. Your policy documentation will also be sent to you by email. Please read these documents. If you decide that the policies do not suit your needs, you have 31 days from when you receive it to cancel. You may do this by contacting us.

Should you not receive the documentation within one month of this call, please ensure that you inform us immediately. If we are not contacted we will assume that you have received them and you are fully satisfied with your policies.

Should you have any questions or queries at all about the policies, or should you need to claim please call us on 0860 00 66 22.

If you are not entirely satisfied with the quality of service, you can email our compliance department at or call our compliance officer on 0860 00 66 22.

The telephone number for the Guardrisk Compliance department is 011 – 669 1104 and their email address is Guardrisk’s complaints department can be contacted on

Should you not be satisfied with the resolution provided from the above two parties you may, for Life, contact the Long Term Insurance Ombudsman on 0860 103 236 or, for Short term contact the Short Term Insurance Ombudsman on 0860 726 890 or or you may contact the FAIS Ombudsman on Tel No: (012) 762 5000 or e-mail

Should your bond be granted, you will be required in the next few days to sign the Loan Agreement documentation at the registering attorney’s office. We will have notified them that you have taken out buildings insurance with us. Please ensure that you take the confirmation letter we send you with you and ensure that the documents you sign at the attorneys office don’t include the banks buildings insurance policy as this would mean you would end up with double the required cover at more than double the cost.

Your privacy is of utmost importance to us. We will take the necessary measures to ensure that any and all information, provided by you is processed in accordance with the provisions of the Protection of Personal Information Act 4 of 2013 and further, is stored in a safe and secure manner.

Your Personal Information collected by us may be used in terms of the applicable laws for the following reasons:

  1. to establish and verify your identity;
  2. to enable us to fulfil our obligations in terms of this Policy;
  3. to enable us to take the necessary measures to prevent any suspicious or fraudulent activity; and
  4. reporting to the relevant Regulatory Authority/Body.

Please refer to your policy document/schedule for our full POPIA clause which protects your personal information.

By accepting the FAIS disclosures you are giving us consent to use your personal info, as explained above.

Thank you for your time and I am sure you will have peace of mind knowing that you and your loved ones will be covered as soon as your property is transferred.

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Listen to our FAIS Disclosures

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