Outsurance, an outlier pays claims for business interruption - Danie Mathee

This week a Western Cape High Court ruled in favour of a Cape restaurant, Café Chameleon. Insurance Claims Africa, fighting for 500 business in the country to get their claims paid out, says the decision is precedent-setting. But the country’s biggest short-term insurer, Santam, announced yesterday that it is sticking to its policy of separating the lockdown from the Covid-19 pandemic and is not paying out. It will wait for its court case in September to get further clarity on its position, but Chief Executive Officer, Lizé Lambrechts said the insurer is confident it has taken the right stance. There is a storm brewing globally over how the insurance industry has reacted to Covid-19 claims, with billboards in New York urging the worldwide industry to do “the right thing”. In South Africa, there is one insurance company, OUTsurance (which is majority owned by Rand Merchant Insurance Holdings) that is an outlier in the industry. Chief Executive Officer, Danie Mathee told BizNews that its brand and reputation is more important than fighting against claims. - Linda van Tilburg