Common reasons life insurers reject death benefit claims
Life insurers paid almost 96% of death and funeral benefit claims last year – with the total payout worth R39.9 billion.
exclusions
Why policyholders complained to the short-term ombudsman in 2023
‘Lack of maintenance or wear and tear’ gave rise to most of the disputes in several categories of insurance.
Santam introduces power surge excesses and exclusions as claims jump
What policyholders should know about the general exclusion for damage caused by electricity grid failure or interruption.
Santam clarifies the impact of grid failure exclusion on power surge cover
The intention of the grid failure exclusion is not to cancel power surge cover, the insurer says.
What insurers’ grid failure exclusions mean for clients
Advice from a qualified intermediary on how to interpret an insurer’s policy wording is essential.
Santam introduces exclusions for losses following loadshedding and other electricity grid interruptions
No doubt, other insurers will soon follow suit.
Preventing a disconnect between client expectations and policy conditions
In a recent article, I quoted from a review conducted by Allianz Global Corporate & Specialty (AGCS) that examined developments in corporate insurance claims and highlighted the top causes of loss for companies, […]
Old Mutual joins move to limit cover for non-physical damage on BI policies
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 […]
