What business owners should know about declared insured values
Having accurate declared insured values is fundamental to the insurer being able to underwrite the policy properly.
Having accurate declared insured values is fundamental to the insurer being able to underwrite the policy properly.
SAIA is concerned about consumers’ perceptions of the insurance industry as covers are removed but premiums increase.
What policyholders should know about the general exclusion for damage caused by electricity grid failure or interruption.
AIG rejected claims by aviation companies whose operations at different premises were impacted by the lockdown and Covid-19.
Insureds don’t always keep pace with the impact of volatility and changes in their operating environment.
Many businesses are operating under the false belief that their insurance policy adequately covers data security and privacy exposure.
The intention of the grid failure exclusion is not to cancel power surge cover, the insurer says.
Advice from a qualified intermediary on how to interpret an insurer’s policy wording is essential.
No doubt, other insurers will soon follow suit.
The hospitality group says the lockdown restrictions discharged it from the liability to pay rent.
A few years ago, climate change was a far-off reality, but a marked increase in natural disasters and weather-related catastrophes points to the reality that it may be closer to home than we […]
Insured values will become a major discussion point with insureds this year, as high inflation raises the risk of underinsurance for companies and mis-declared values for insurers, according to Allianz Global Corporate & […]
Only 259 of the new complaints registered by the Ombudsman for Short-term Insurance (Osti) last year were related to Covid-19. But settlements in Covid-related business interruption (BI) complaints accounted for 49.5% of the […]
Old Mutual Insure has followed South Africa’s largest short-term insurer, Santam, in excluding certain types of non-physical damage from its business interruption cover, because it can no longer reinsure these events. Read: Santam […]
Santam, South Africa’s leading non-life insurer, issued an “operational circular” on 15 March that could have a significant impact on commercial clients’ existing cover for business interruption resulting from extended cover for losses […]
Higher mortality claims knocked Momentum Metropolitan’s operating profit in the six months to the end of December, declining by 12% to R785 million compared to the first six months of the 2021 financial […]
The South African insurance industry is a vital socio-economic sector that provides a critical safety net to society. This was crystalised in 2021 as we continued to grapple with the fallout from the […]