Santam’s offer of three-month settlements for clients with Covid-19 business interruption claims has drawn harsh criticism from specialist loss adjuster Insurance Claims Africa (ICA), which has accused SA’s largest short-term insurer of trying to take advantage of clients desperate for cash.

Santam is seeking to appeal against a 2020 judgment in favour of ICA and Ma Afrika Hotels that found it liable for 18 months of cover and forced it to more than double its provisions, but ICA maintains the insurer’s current offer to other clients of “full and final” three-month payments to settle claims is “unconscionable”...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now