Santam has offered to pay up to three months of business interruption cover but that’s not the deal that was agreed when many of its clients signed up for the insurance. Meg Fargher, co-owner of 18-room five-star boutique hotel and fine dining establishment Budmarsh, in the Magaliesburg, has been fighting to preserve the jobs of more than two-dozen staff after Covid-19 disruption hammered the business. In this interview, she tells the story of how Santam has ducked, dived on paying out for business interruption cover. To add insult to injury, and also stress levels, while she tries to keep the place running with no income, she has to keep paying her business interruption cover to Santam – or she will automatically lose the right to claim the insurance. This is a story that is playing out across South Africa as small businesses struggle to survive the pandemic. – Jackie Cameron
After participating in multiple startup accelerator programs in Hartford, South African insurtech Pineapple is planning to open a Capital City office early this year, where it will base its U.S. operations.
It’s a promising sign for a city trying to become more of a hub for tech startups.
Pineapple has developed a peer-to-peer insurance app that allows users to buy insurance for valuables that aren’t traditionally covered think bicycles, electronics, etc.
A user takes a photo of the item they want to insure, inputs the cost and within a minute Pineapple automatically calculates a premium payment. (Policies are underwritten by South African insurance firm Old Mutual Insure.)
Santam remains intransigent, refusing to abide by SCA precedent
Flood of BI claimants outside tourism sector join ICA following series of court victories
Specialist public loss adjuster, Insurance Claims Africa, welcomes Guardrisk and Hollard’s commitment to honour their customers Business Interruption claims following the recent Supreme Court of Appeal (SCA), which ruled in favour of Café Chameleon.
ICA warns however, that the next battle will be in respect of the quantum of these claims and it therefore encourages all Hollard and Guardrisk claimants to contact ICA, so that it can assist to secure a fair settlement.
On 17 December 2020, the SCA dismissed the appeal, ordering Guardrisk to settle Café Chameleon’s full claim and legal costs. On 18 December, Guardrisk wrote to clients confirming it accepted the SCA ruling and would abide by it.
ICA applauds two insurers for business interruption payouts Insurance Claims Africa, which represents more than 850 claimants, says not all insurers are on board 23 December 2020 - 09:20 Staff writer Picture: 123RF/EVERYDAY PLUS
Insurance Claims Africa (ICA) has welcomed the decision by Hollard and Guardrisk to pay claims from businesses forced to close during the national lockdown to stem the spread of the coronavirus.
This follows the recent Supreme Court of Appeal (SCA) ruling in favour of the business interruption claim made by Cafe Chameleon, a Guardrisk customer. On December 18, the company said it would abide by the ruling.
Ryan Woolley, CEO of ICA, said Hollard has since also agreed to start processing claims as long as the policies contained the appropriate and similar cover to the policy assessed by the SCA in the Cafe Chameleon case.
South Africa: Big Win for Hospitality Sector After Appeal Court Rules Against Guardrisk allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.