Santam paid out R24.5 billion (2020: R21bn) in claims last year, the highest gross claims pay-out in its 104-year history, the country’s biggest short-term insurer said in its financial results for the year […]
Events over the past year, both locally and internationally, have shifted the focus on a number of material terms and conditions in policy documents. Pre- and post-Covid A media release published in November […]
The systemic nature of cyber risk provides intermediaries with an unprecedented opportunity to show-case their value to clients, Andrew Coutts, Santam’s head of Intermediated Distribution, told the recent InsureTalk18 online conference. It is […]
Possibly the single biggest pandemic issue affecting the short-term insurance industry was the contingent business interruption (CBI) controversy. At first, insurers denied liability, claiming that the lockdown was not an insured peril. It […]
Possibly the single biggest pandemic issue affecting the short-term insurance industry was the contingent business interruption (CBI) controversy. At first, insurers denied liability, claiming that the lockdown was not an insured peril. It […]
South Africa’s short-term insurance sector experienced a 28% fall in profit after tax (PAT) last year, from R8.3 billion in 2019 to R6bn, largely because of defaults on credit, an increase in net […]
South Africa’s short-term insurance sector experienced a 28% fall in profit after tax (PAT) last year, from R8.3 billion in 2019 to R6bn, largely because of defaults on credit, an increase in net […]
Santam announced today that it will settle valid claims for all commercial policies with contingent business interruption (CBI) extensions in addition to those covered by its Hospitality & Leisure division. This announcement impacts […]
Whilst the UK Supreme Court will deliver its judgment on the FCA test case on Business Interruption Insurance policy wordings tomorrow morning, South African insurer Santam commenced with a process for settling Covid-19 […]
The introduction of “execution of sales” as a method of making financial products accessible to the lower income section of the population may have arisen from noble intentions, but like the expression says, […]
The introduction of “execution of sales” as a method of making financial products accessible to the lower income section of the population may have arisen from noble intentions, but like the expression says, […]
“In light of the SCA (Supreme Court of Appeal) judgment, the FSCA now expects the non-life insurance industry to honour its CBI cover obligations and to make payment of valid CBI claims without […]
Following the Cape High Court finding that Santam was liable to pay qualifying policyholders under the Business Interruption clause related to contagious diseases, the biggest insurer indicated on Friday that it would appeal […]
On 17 November, the Cape High Court delivered a rather damning blow to the insurance giant’s hope of escaping liability under the business interruption clause, specifically as it relates to losses resulting from […]
Santam recently announced that they have paid just over R1 billion in interim relief to policyholders in the hospitality, leisure and non-essential retail services industries, who have the Contingent Business Interruption (CBI) extension in […]
Santam recently announced that they have paid just over R1 billion in interim relief to policyholders in the hospitality, leisure and non-essential retail services industries, who have the Contingent Business Interruption (CBI) extension in […]
Last week, Santam announced its 2019 Broker Award winners after cancelling the Broker Award sessions, an annual highlight on the Intermediary Business calendar, because of COVID-19. Andrew Coutts, Head: Intermediated Business at Santam, […]
