What is business interruption insurance? A business undertaking is set up to trade at a profit. They generate an income from which they earn a net profit, pay variable costs (including buying stock, electricity usage, wages, etc.), and pay their … Continue reading →
We all know that the next few months will be something of a crucible for all of us and smaller businesses will take strain. That being said, entrepreneurs are tough minded by nature and now is the time to put … Continue reading →
Government has announced the implementation of a risk-adjusted strategy in easing the nationwide lockdown. This strategy entails the use of a system of alert levels applicable nationally and provincially. Nationally, on 1 May 2020, South Africa will move from its … Continue reading →
Just as suddenly as COVID-19 and the consequential Lockdown hit South Africa’s shore, our industry responded, and we are now moving in directions and at speeds we never thought possible. Uncomfortable as change might be for some, the ripple effect … Continue reading →
The Minister of Employment and Labour has issued a Direction setting out the measures that employers are required to take to prevent the transmission of COVID-19 in workplaces. The Direction applies to all workplaces covered by the Occupational Health and … Continue reading →
Payment of missed premiums An insured approached OSTI for assistance following the rejection of his claim for an accident that occurred on 11 June. The insurer rejected the claim on the grounds that the insured had failed to make payment … Continue reading →
Alert Levels
Continue reading →Right now, there are currently around 2.5 billion people around the world in some form of a Covid-19 lockdown, and millions more businesses are also shuttered and unable to trade or generate an income. The impact of the Covid-19 pandemic … Continue reading →
Here’s the updated list of essential services for the remainder of the lockdown period: Medical, Health (including Mental Health), Laboratory and Medical services and the National Institute for Communicable Disease; Disaster Management, Fire Prevention, Fire Fighting and Emergency Services; In … Continue reading →
In the weeks since South Africa’s COVID-19 lockdown started, local insurers appear to be embracing the Treating Customers Fairly (TCF) principles even more so than required by law under normal conditions. Sustaining this could stand the industry in good stead … Continue reading →