A recent media release sets out the FSCA’s current position on certain aspects of Contingent Business Interruption Insurance (CBI) cover as well as its expectations of non-life insurers and policyholders in respect of CBI […]
Following the legal certainty it sought on business interruption claims, it is to be hoped that the FSCA will follow the example of the UK regulator in quickly setting guidelines and principles for […]
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 […]
The UK Supreme Court has upheld the judgement on the Financial Conduct Authority’s (FCA) business interruption (BI) insurance test case. This step completes the legal process for impacted policies and means that many […]
The Department of Transport has announced that learner and drivers’ licences which have expired from 26 March 2020 to 31 December 2020 are deemed valid until 30 August 2021. But although there has […]
The Department of Transport has announced that learner and drivers’ licences which have expired from 26 March 2020 to 31 December 2020 are deemed valid until 30 August 2021. But although there has […]
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 […]
Policy wording and the detailed definition of the insured event and coverage are upfront requirements of an insurable risk. The consequences of the pandemic and resulting lockdown as well as various lockdown levels […]
Policy wording and the detailed definition of the insured event and coverage are upfront requirements of an insurable risk. The consequences of the pandemic and resulting lockdown as well as various lockdown levels […]
“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 […]
Policy wording and its interpretation at claim time received increased airtime in the last few months as a result of various Business Interruption insurance claims. Although the courts have thus far ruled in […]
Guardrisk and Santam found themselves at the wrong end of the outcomes in two Cape High Court cases last week. On Tuesday, a full bench of the court ruled that Santam was liable […]
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 […]
The Without Prejudice website recently published an article, written by Christine Rodrigues and Keryn Layton-Mccann of Bowmans, on the UK’s Financial Conduct Authority (FCA) efforts to obtain legal clarity on whether insurers are […]
The Without Prejudice website recently published an article, written by Christine Rodrigues and Keryn Layton-Mccann of Bowmans, on the UK’s Financial Conduct Authority (FCA) efforts to obtain legal clarity on whether insurers are […]
A Fin24 report notes that Old Mutual has joined the other major insurers who opted to either provide interim financial relief or come to a settlement agreement with their business interruption customers. The […]
Decisive action by the Twin Peaks Authorities saw the hard-nosed stance by non-life insurers make way for a more practical approach to the issue of business interruption claims in the hospitality industry. On […]
