Caving over Covid: Santam’s embarrassing U-turn
Santam has finally agreed to pay R1bn to desperate clients – but denies its hand was forced. The regulator says otherwise
Santam isn’t used to much bad publicity, let alone a blizzard of lamentable PR following its reluctance to pay out clients’ Covid-related business interruption claims.
"It’s not pleasant to read negative remarks about the company. We are not unfeeling about our clients and we have used our own capital to help them out," CEO Lizé Lambrechts told the FM this week.