Insurance in South Africa is regulated by the Financial Services Board (FSB). The Financial Services Board is an independent institute, established by statute to oversee all non-banking financial services industry in South Africa. All relevant South African insurance legislation can be found on the South African Insurance Association website. Insurance in South Africa has experienced a significant change in recent years. Some insurance companies have taken the "no middle man" route in an attempt to cut premium costs and invite consumers to insure themselves without the aid of an insurance broker. This approach has clearly been successful as it appears that direct insurers are thriving and more are springing up. There has also been a sudden increase of life insurance companies going the "broker free" route of late as well. Consumers seem to prefer this route as they usually do not need to go for medical exams. However, clients are required to fill out a comprehensive medical questionnaire on which they need to state any current medical conditions. At claim time this questionnaire is used to determine whether the policy holder was truthful or not about his/her health and claims can be turned down based on the outcome.