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Santam to reassess Covid-19 business interruption claims

Business News 2 weeks ago

However, the insurer says there are ‘valid reasons’ for it to appeal the indemnity period.


04 Jan 2021
PREMIUM!
Santam to reassess Covid-19 business interruption claims

Insurance giant Santam announced earlier on Monday that it would start the process to assess claims for business interruption, but it would still appeal the indemnity period after the recent judgment in the Western Cape High Court that ordered the company to pay the claims from Ma-Afrika Hotels and The Stellenbosch Kitchen. Santam said in a statement that although it respected the decision of the courts and believed the recent court judgments provided legal certainty about the proximate cause of business interruption losses for similar policies, it also believed there were still valid reasons to appeal the indemnity period. Santam...

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