Santam says it can process only 57% of business interruption claims
The rest of the insurer’s CBI claimants have not submitted all the necessary documents — and the deadline is August 31
Santam says it is only in a position to process 57% of the contingent business interruption (CBI) claims related to Covid-19 that it has received since the pandemic began, because the remaining clients have not yet submitted all the required documentation.
SA’s largest short-term insurer says it has received a total of 3,252 CBI claims, roughly 2% of its commercial and corporate clients, but has been able to process only 1,851 because some customers failed to submit all the required documents. The company said it has appointed 40 additional expert business interruption loss adjusters to help it process CBI claims and is going through assessment or settlement negotiations with about 757 claimants. ..