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Insurance industry body says most business interruption claims are being paid

Insurance industry body says most business interruption claims are being paid
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.

Insurers super-profits: Industry says it s not that black and white

Getty Images Insurers say they ve used the money saved from lower vehicle claims to provide relief and premium discounts to customers. While they had fewer vehicle claims in 2020, the industry says it forked out more money on credit life, business interruption and travel-related claims. The industry is also expecting reinsurance premiums to shoot up. Short-term insurers say they went above and beyond for their customers in the past year and aren t greedily gobbling up savings from lower claims. On Tuesday, a research report by the economic advisor to the Optimum Investment Group, Roelof Botha, showed that the sector has been making super-profits since the Covid-19 pandemic hit SA s shores, thanks to lower-than-usual care and property claims.

Insurers profit as businesses die during pandemic

Insurers profit as businesses die during pandemic
thesouthafrican.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thesouthafrican.com Daily Mail and Mail on Sunday newspapers.

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