African regulators diverge on approach to Covid-19 payouts

Credit: iStock/Robin Gentry

South African insurers will not be forced to pay out Covid-19 claims on business interruption (BI) policies where non-physical damage was not written into the policy, after the South African regulator took a stance that is in contrast with the view of the Kenyan regulator. The move comes as the regulator reported most South African insurers look set to withdraw…

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