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.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now