MiWay ordered to pay up after car goes missing during a night on the town
The events that led up to an insurance claim for a stolen car are reminiscent of the hit comedy ‘The Hangover’.
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People’s expenses change in retirement. Shouldn’t their income too?
Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.
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High Court orders Hollard to top-up heart attack benefit pay-out by R1.7m
The payment percentages should apply individually to each event within the policy’s benefit groups, judge finds.
Updated: Discovery to petition SCA after losing appeal against R25m disability order
The key issue in the appeal application was the relationship between the insured event and the life insurer’s duty to pay the claim.
Ombud uses logical inferences to conclude that driver was reckless
The insurer must prove on a balance of probabilities that the insured recognised the danger and proceeded with his course of action.
Discovery must pay R25m to ex-stockbroker who suffered mental breakdown
The life insurer acted unreasonably when it did not consider reports on the man’s incapacity after his policy expired, judge says.
High Court considers the meaning of ‘sudden’ in R7m liability claim
Transnet took Santam to court to recover the costs of rehabilitating soil contaminated after thieves broke into a fuel pipeline.
FAIS Ombud told to reconsider decision in case involving ambiguous policy wording
Insurer argues that ‘days’ means ‘normal days’, but the Financial Services Tribunal does not agree.
Why SCA rejected Zurich Insurance’s prescription defence in case over claim for damage to Gautrain tunnels
The Supreme Court of Appeal (SCA) has upheld the Gauteng provincial government’s claim against Zurich Insurance for the cost of repairing damage caused during the construction of tunnels for the Gautrain. The High […]
King Price ordered to pay claimant the amount he owed for his vehicle
The High Court in Pretoria has upheld a Regional Court order that King Price must pay a claimant the amount he owed the bank for his vehicle, which was written off after an […]
OM declines claim on grounds of non-disclosure
“Husband’s moles cost widow R2m,” screamed the headline. The article, which appeared in Rapport on 5 June, sketched the background to yet another claim refuted on grounds of non-disclosure. Background The client was […]
Expert’s findings unreliable in dispute over damaged pump
The Ombudsman for Short-term Insurance (Osti) ruled that an expert’s findings on which the insurer relied to reject a claim were unreliable. The policyholder submitted a claim for storm damage to his jacuzzi’s […]
Annual death claim benefit statistics – Beneficiaries receive more than R15.1 billion
The 2018 annual death claim benefit statistics for fully underwritten individual life policies released last week by the Association for Savings and Investment South Africa (ASISA) show that life insurers paid 33 545 claims, […]
Insurer Claim Statistics 2018 – What data shows about claims
Last week, both Liberty and Momentum released their Claim Statistics for 2018. In 2018 Liberty paid claims to the value of R4.69 billion to 28,453 individuals and their beneficiaries. Momentum also paid out claims […]
In good faith
A case study recently published by the Short-term Ombudsman reiterates the basic principle that short-term insurance is a contract entered into in good faith and that there was no obligation on an insurer […]
Southern Cape Fires: The Future in the Rear View Mirror
“Our tale is of a rather sobering scenario that should urgently be considered by those planning for the Garden Route’s future […] in this possible future, fires would rage with abnormal intensity, seriously […]
