SA’s largest short-term insurer, Santam, pledged R1bn in relief for small and medium-sized leisure, hospitality and nonessential retail businesses as the insurance industry pushes back against paying out claims related to Covid-19 business disruptions.
Santam is embroiled in a legal battle with Western Cape-based hotel group Ma-Afrika Hotels, which is claiming payments for business interruptions due to the lockdown. Earlier in July, Santam opposed an application brought against it in the high court in Cape Town, with a court case set for September 1. (Text, excluding headline, courtesy Businessday SA)
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