Get Even More Visitors To Your Blog, Upgrade To A Business Listing >>

News24 | Alleged Eastern Cape lawyer looting is turning Fidelity Fund into an 'insurance disaster' - CEO

The alleged massive theft of medical negligence payouts by Eastern Cape lawyers could potentially collapse the Legal Practitioners Fidelity Fund (LPFF), which offers insurance against legal malpractice, its CEO said – by making it 'uninsurable.'

"Either [the fund] is going to now be categorised… like [it's] into earthquakes and that kind of thing in terms of risk or alternatively [it's] going to be kicked out because [it's] uninsurable. People believe that to insure the fund is just to insure a disaster, and without that [insurance], we will just collapse," the CEO, Motlatsi Molefe, told News24.

"That is what I am dealing with at this point, and it's very important for me to be transparent so that the general public knows what I am dealing with."

South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.

Next on News24

With a key AGOA summit days away, SA gets cosy with Iran – as the US prepares to fight it

23 Oct



This post first appeared on Viral News Africa | Africa Trending News, Celebs, Social Media News, please read the originial post: here

Share the post

News24 | Alleged Eastern Cape lawyer looting is turning Fidelity Fund into an 'insurance disaster' - CEO

×

Subscribe to Viral News Africa | Africa Trending News, Celebs, Social Media News

Get updates delivered right to your inbox!

Thank you for your subscription

×