Restaurants, B&Bs, hotels, game lodges and other businesses are negatively affected by insurance companies scrapping cover for infectious disease claims in the hospitality industry due to the Covid-19 pandemic and lockdown.Insurance Claims Africa has welcomed a UK high court ruling declaring that insurers are liable for Covid-19 business interruption insurance claims.
“The UK case was based on business interruption policy wording that is very similar to the policy wording in many SA insurance policies in that it includes cover for notifiable infectious and contagious diseases,” said Ryan Woolley, CEO of ICA. “From the start we have consistently said these claims should be paid. Our message to SA insurers remains the same as it has been from the outset: talk to us about reaching a swift and sensible settlement for the affected businesses, many of whom face having to retrench large numbers of staff, and for some, even the existential threat of closure,” Woolley said.
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SA hospitality industry welcomes UK ruling declaring insurers liable for Covid-19 business interruption“Today [Tuesday], the UK’s Financial Conduct Authority (FCA) said the court found in favour of the arguments advanced for policyholders on the majority of the key issues,” ICA said.
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