Insurers warned on loss-of-trade claims
If they don't pay for business interruption, clients will depart
With some short-term insurers offering limited payouts on business interruption claims, a group representing about 850 leisure claimants believes the sector is ripe for disruption by new and existing players.
Speaking this week after a media update on business interruption claims, Insurance Claims Africa (ICA) CEO Ryan Woolley said customers whose trust had been damaged may look for alternative suppliers of insurance. Asked if any of its clients intended leaving their current insurers once their cases had been settled, he replied: "Absolutely."..