Santam estimates that its gross exposure to the KZN floods is around R3.2 billion. It says this "one in 25-year event" was by far the largest natural catastrophe in its history.
Santam appoints Tavaziva Madzinga as the company s new CEO iol.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iol.co.za Daily Mail and Mail on Sunday newspapers.
Santam reacts to appeal court’s Cafe Chameleon-Guardrisk judgment Ina Opperman The insurer said while there were similarities between the Cafe Chameleon case and the Santam case, there were also material differences.
Insurer Santam has responded to the Supreme Court of Appeal judgment in favour of Cafe Chameleon, after restaurant took its insurer, Guardrisk, to court for failing to pay out its business interruption insurance.
Santam said in a statement that it had taken note of the judgment.
The insurance giant explained in its statement that matters involving contingent business interruption (CBI) were complex in nature and required careful consideration.