Billions at stake for insurers after Guardrisk business interruption ruling

In a landmark decision, the Supreme Court of Appeal dismissed with costs Guardrisk Insurance’s appeal against a prior ruling that it must compensate Cape Town restaurant Café Chameleon for business interruption losses stemming from Covid-19 and the ensuing lockdown.

The ruling sets a legal precedent that could potentially put insurers on the hook for billions of rand in business interruption payouts. This follows a string of court losses by insurers that refused to pay claims for losses related to Covid-19 and the subsequent lockdown...

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ICA applauds two insurers for business interruption payoutsInsurance Claims Africa, which represents more than 850 claimants, says not all insurers are on board Save us the reading, which ones aren't on board? Out? Lib? Disc?
Source: BDliveSA - 🏆 12. / 63 Read more »

ICA applauds two insurers for business interruption payoutsInsurance Claims Africa, which represents more than 850 claimants, says not all insurers are on board
Source: BDliveSA - 🏆 12. / 63 Read more »

Santam only insurer refusing to pay business interruption claimsAuto & General approved the first claim on 10 June and announced it publicly on 19 June, before the Financial Sector Conduct Authority (FSCA) instructed insurers to pay out business interruption claims. Utter nonsense, please fact check before printing incorrect statements. BryteInsurance insurance is still hard at it. Fighting claims as hard as they can. Cancel all your policies and go to another provider
Source: TheCitizen_News - 🏆 6. / 75 Read more »