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Santam finally agrees to assess business interruption claims

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Insurance giant Santam announced on Monday that it will start assessing claims for those of its clients who had been paying for hospitality and leisure policies, which include business interruption.

But Santam refused to accept the outcome, arguing that the cases were materially different. This is despite its earlier position, where it wrote to the SCA asking to join its Ma-Afrika appeal with the Café Chameleon appeal.

“As South Africa faces a second wave of the Covid-19 pandemic, hope of survival is fast evaporating for many of these businesses who were counting on the summer holidays to carry them through to 2021.” Meanwhile, affected Santam policy holders must now provide Santam with audited financial statements and other documentation to support their claims.

 

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Why did it have to take the Regulator FSCA_ZA and the Courts to make Santam pay? Is Santam going to compensate for the lost livelihoods caused by their despicable delaying tactics? NotSoGoodAndProperAfterAll InsurersFailTourism SantamInsurance

South African banks must come to the party. Why are they continuing as though the world is not facing a devastating pandemic..!

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