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Covid-19 impact revealed in life companies' claims figures


Covid-19 impact revealed in life companies’ claims figures
Words on Wealth:
Life insurance claims statistics for 2020 released this week by Liberty and Old Mutual reveal how Covid-19 has disrupted normal business between life insurers and consumers, directly and indirectly. Old Mutual paid out 22% more on claims for its underwritten risk products (way above its average 9% year-on-year increase), with a rise in claims related to respiratory illness and a rise in retrenchment claims. And although the increase in payouts on Liberty’s risk products (of 7.94%) was broadly in line with its average annual increase, the company saw a significant rise in its mortality and retrenchment figures. ....

South Africa , Eastern Cape , John Kotze , Ingrid Williamson , Kresantha Pillay , Iron Mclaren , Old Mutual , Western Cape , Lifestyle Protector , Insurance Ombudsman , Employer Relief Scheme , Judge Ron Mclaren , Treating Customers Fairly , Covid 19 , கிழக்கு கேப் , ஜான் கோட்ஸே , ரோன் மக்லேரந் , பழையது பரஸ்பர , மேற்கு கேப் , வாழ்க்கை ப்ரொடெக்டர் , காப்பீடு ஆஂபட்‌ஸ்மந் , முதலாளி துயர் நீக்கம் திட்டம் , நீதிபதி ரோன் மக்லேரந் , சிகிச்சை வாடிக்கையாளர்கள் மிகவும் ,

Insurers 'must prove reckless driving' before rejecting a claim


Insurers ‘must prove reckless driving’ before rejecting a claim
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Exceeding the speed limit is not generally on its own a sufficient reason for an insurer to reject a car insurance claim if you cause an accident. The insurer must prove that you were driving recklessly.
This is according to a case study in the 2020 annual report of the Insurance Ombudsman, released on Tuesday.
Whereas in previous years the short-term and long-term insurance ombudsmen submitted separate annual reports, the two offices now fall under a single ombudsman, Judge Ron Mclaren, and they submitted a joint report.
The report relates the case of Mr P, who lost control of the vehicle he was driving after swerving to avoid a dog in the road. The vehicle, which belonged to Mr M, collided with a tree and a fence. It was written off by the insurer. ....

Insurance Ombudsman , காப்பீடு ஆஂபட்‌ஸ்மந் ,