Old Mutual Insure pays R500m for Covid-19 business claims

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 63%

Business News News

Old Mutual Insure has paid out 10% of the R5bn set aside for pandemic-related business claims

Old Mutual Insure says it has made more than 300 payments worth about R500m for contingent business interruption claims linked to Covid-19 since the onset of the pandemic, though it did not say how many total pandemic-related business loss claims it had received.

That amounts to about 10% of the R5bn in provisions it has set aside to settle CBI claims linked to losses suffered by clients as a result of Covid-19 and the subsequent lockdowns. The R500m in CBI payments made by Old Mutual Insure included relief payments, interim payments and final payments to policyholders affected by the pandemic...

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines