Billions at stake for insurers after Guardrisk business interruption ruling
Guardrisk had argued that its policy agreement with Café Chameleon did not cover government’s response to Covid-19
17 December 2020 - 16:24
UPDATED 18 December 2020 - 11:45
In a landmark decision, the Supreme Court of Appeal (SCA) dismissed with costs Guardrisk Insurance’s appeal against a prior ruling that it must compensate Cape Town restaurant Café Chameleon for business interruption losses stemming from Covid-19 and the ensuing lockdown.
The ruling sets a legal precedent that could potentially put insurers on the hook for billions of rand in business interruption payouts. This follows a string of court losses by insurers that refused to pay claims for losses related to Covid-19 and the subsequent lockdown...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.