Pinnacle meets all statutory requirements:
- Pinnacle is registered with the Council for Medical Schemes under the following registration number - ORG 1494, and is therefore authorised to operate as an accredited medical scheme intermediary. Our consultants, administrative staff and contact centre agents are also registered with the Council for Medical Schemes in their individual capacities.
- Furthermore, Pinnacle is a licensed financial service provider in terms of Section 8 of the Financial Advisory and Intermediary Services Act 37 of 2002, with FSP number: 13820.
- Pinnacle makes use of an external Compliance Officer (Ten-Four Consulting). The last FSB audit report conducted on Pinnacle was submitted in October 2010. This includes a systems audit.
- The professional indemnity cover for the organisation is with Santam. Cover limit is R6 million per claim.
- SAS 70 Certification-IT Systems disaster recovery processes and certification - The Pinnacle servers are backed-up offsite by way of continuous automatic server downloads. The entire network is backed up by means of external tape drives on a daily basis with the latest backup always stored offsite to ensure against risk of loss.
These processes are supported by a full disaster recovery plan and international system audit certification. The control objectives that are tested during a certification process include the following:
- The proper management of interdependence with trading partners
- Continuous business activity
- The safeguarding of sensitive data
- Continuity of business processing and prevention of systems interruption
- Access top data and programmes are properly authorised
- Data is protected against external threats.