Santam also eager for legal certainty on Covid claims
Disputes continue between insurers, clients and regulators over how to interpret contingent business interruption clauses
06 September 2020 - 07:42
As SA’s short-term insurance industry waits for a court ruling on the Covid-related contingent business interruption (CBI) claims most insurers have so far declined to pay out, Santam says it wants legal certainty — so that if it has to pay out, its own reinsurers won’t repudiate its claims.
This comes as disputes continue world-wide between insurers, clients and regulators over how to interpret the CBI clauses and whether Covid claims must be paid...
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