Guardrisk to settle with 700 clients in Covid-19 payout wrangle
Settlement will be equal to the first three months of lockdown, but Insurance Claims Africa says six months would have been a reasonable compromise
29 July 2020 - 12:11
UPDATED 29 July 2020 - 18:07
SA’s fourth-largest nonlife insurer and a subsidiary of Momentum Metropolitan Holdings, Guardrisk, has opted to settle with up to 700 small business clients who are fighting its decision to reject their claims related to the effects of the coronavirus lockdown, the firm told Reuters.
SA’s insurers, in line with the industry globally, have declined to pay out under business interruption policies that many firms thought would give them cover, because they argue lockdowns were not included in the policies...
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