Unnoticed changes to documents crucial to BI dispute between mall owners and insurers
The contract went through 10 iterations between July 2019 and March 2020, with the term ‘infectious and contagious diseases’ variously in or out.
Guardrisk
Insurers and their clients count the cost of extreme weather
The insurance industry faces the challenge of striking a balance between affordability for clients and ensuring long-term sustainability amid the changing risk landscape.
Court makes punitive costs order against Guardrisk after finding expert’s evidence wanting
Insurer must pay R1.82m to a Ferrari owner whose claim was rejected on the grounds of reckless driving.
Momentum’s interim profit jumps 46% as Covid becomes endemic
However, cash-strapped consumers are putting new business volumes under pressure.
Guardrisk seeks summary judgment over unpaid premiums
Insurer and director signed a suretyship after intermediary allegedly used premiums to cover its own business expenses.
Monday briefing: a round-up of recent financial services news
Pawn-while-you-drive warning | Guardrisk insurtech platform | OM buys digital wills start-up | Investec outperforms Alsi
MMH reports disappointing new business volumes
Momentum Metropolitan’s life businesses benefit from decline in death claims and higher investment returns.
Momentum reports lower claims impact from Covid
The impact of the fourth wave of Covid-19 on Momentum Metropolitan Holdings’ South African life insurance businesses eased during the nine months to the end of March. In a trading update, MMH said […]
Covid death claims hit Momentum Metropolitan’s interim operating profit
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 […]
Fourways Mall owners take insurers to court over BI claims
It seems the courts will have to settle another dispute over the interpretation of business interruption (BI) policies – this time involving the property sector. According to a report in the Sunday Times, […]
KPMG survey reveals impact of recession and pandemic on short-term insurance industry
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 […]
KPMG survey reveals impact of recession and pandemic on short-term insurance industry
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 to appeal BIC judgment – Proposes joint appeal with Guardrisk
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 […]
