Santam case sees tighter policies
Old Mutual, Bryte, Santam and Hollard decline to comment on whether they will revise business interruption policies
New business interruption policies are likely to have narrower parameters for what will be covered as insurers face hefty payouts after a high court judgment this week.
The Western Cape High Court this week instructed Santam to pay hotel group Ma-Afrika R122m for losses caused by infectious or notifiable diseases. And though the outcome of another case, between Café Chameleon and Guardrisk General Insurance, to be heard in the Supreme Court of Appeal (SCA), is still to be decided, insurers are no doubt already revising their business interruption policies...