The judgment ordered the insurer to pay the companies for the effect of the pandemic over the entire policy period of 18 months, without limitations.
Santam Group’s CEO, Lizé Lambrechts, said on Thursday the insurer was “very pleased” that the judgment “allows” the company “to proceed to finalise all impacted CBI claims as soon as possible”. The judgment affects less than a third of the 3,200 notified business interruption claims, Lambrechts, said. The company had already paid more than R2.1bn in those claims, she said, including R1bn in interim relief to about 2,500 businesses in August 2020.
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Source: BDliveSA - 🏆 12. / 63 Read more »
BREAKING NEWS: Santam loses appeal against Ma-Afrika Covid-19 business interruption rulingSCA dismisses Santam’s appeal with costs and orders it to pay Ma-Afrika Hotels and Stellenbosch Kitchen for the full 18-month indemnity period Weird how these insurance companies want your money but when its time for them to do what they supposed to their clam up... show us SANTAM not SANLAM please. So the visual is of sanlam not santam. But does anyone care?
Source: BDliveSA - 🏆 12. / 63 Read more »