Is the lockdown claims saga a body blow to the insurance sector's credibility?

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Liberty says many people have not gotten back to paying their premiums after the Covid-19 relief.
Photo: Getty Images
Liberty says many people have not gotten back to paying their premiums after the Covid-19 relief. Photo: Getty Images

Some 10 648 people had put their signatures on the petition that has called on South Africans to "re-evaluate their insurance providers" if companies including Santam, Guardrisk, Old Mutual Insure and Hollard do not pay the tourism sector's lockdown claim on Thursday, even before the Supreme Court of Appeal (SCA) ruled that the lockdown was a covered business interruption peril.

The case that has kept both insurers and their business interruption cover clients up at night for months may finally be put to bed after Thursday's judgment which dismissed Guardrisk's appeal, effectively ordering the insurer to pay Café Chameleon's claim.

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