Guardrisk settles 79% of Covid-19 business interruptions claims
Insurer says it has finalised 530 of the 670 claims it received for business losses as a result of the pandemic
Guardrisk, a subsidiary of Momentum Metropolitan Holdings, has defended its record in settling contingent business interruption claims from clients whose businesses have been affected by Covid-19.
The company’s response comes just two days after Insurance Claims Africa (ICA), the public loss adjuster assisting policyholders who claim their insurers are resisting settling Covid-19 business interruption claims, accused the short-term insurance industry on Tuesday of hiding behind lawyers and bureaucratic processes to delay settlement. ICA also hinted that it may launch “ground-breaking litigation” against the short-term insurance industry for damages to clients’ businesses caused by insurers’ alleged resistance to timeous claims settlement...