Santam pays out over R800m in relief to tourism firms
In July, the insurer pledged R1bn in relief to policyholders that have the contingent business interruption extension on their policies
SA’s largest short-term insurer Santam, which is appearing in court next week over business-interruption claims, has paid out almost all of what it pledged to qualifying clients.
To date the insurer has paid R870m in interim relief payments to 2,092 businesses in the tourism and hospitality sector. The payments range from R25,000 to R1.5m.