Old Mutual Insure pays R500m for Covid-19 business claims
Old Mutual Insure has paid out 10% of the R5bn set aside for pandemic-related business claims
12 July 2021 - 19:07
Old Mutual Insure says it has made more than 300 payments worth about R500m for contingent business interruption (CBI) claims linked to Covid-19 since the onset of the pandemic, though it did not say how many total pandemic-related business loss claims it had received.
That amounts to about 10% of the R5bn in provisions it has set aside to settle CBI claims linked to losses suffered by clients as a result of Covid-19 and the subsequent lockdowns. The R500m in CBI payments made by Old Mutual Insure included relief payments, interim payments and final payments to policyholders affected by the pandemic...
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.