FSCA says insurers must pay out Covid-19 BI claims

South Africa's financial services regulator has come out strongly against insurers who have refused to pay claims related to the Covid-19 pandemic. The body has stated that the National Lockdown cannot be used by any insurer as grounds to reject a claim because such conduct goes against the principles of treating customers fairly and breaks down confidence and trust in the insurance sector. Business Day TV spoke to the FSCA's Makgompi Raphasha for more detail.