INTRODUCTION The North Gauteng High Court recently handed down a judgment which will undoubtedly gain support from many policyholders. Whilst the matter specifically relates to a car insurance claim, the principles laid down in this case will certainly find...
Introduction It is almost impossible to think of an insurance policy that does not have any conditions and/or warranties. Most insurance policies, if not all, have various conditions and warranties which, if they are not adhered to, may lead to a lawful rejection of...
The global business community is undergoing a transition towards a green economy driven by a shared recognition of the urgent need to address climate change, protect natural resources, and promote sustainable development. As businesses in South Africa and elsewhere...
For the past few days, the international news has been dominated by the missing Titanic submarine. Social media platforms have also been abuzz with the missing submarine. One of the interesting questions that seemed to be prominent was the question of whether...
Insurance contracts are sometimes referred to as reciprocal contracts because they usually involve both the insured (paying a premium and getting peace of mind) and the insurer (bearing the risk whilst getting premiums) – both parties bear some obligations and...
A few years ago, several well-known short-term insurance companies took legal action against an intermediary company due to the damages they incurred as a result of the intermediary's collapse. The intermediary, presently in liquidation, was responsible for the...
Insurance policies often contain a standard clause requiring policyholders to comply with the laws of the country where the policy is issued. The intention behind the clause is to ensure that policyholders act in a lawful manner. Failure to comply may lead to policy...
The parties to an insurance contract all have a legal duty to disclose. All the material information must be disclosed. This sounds simple enough, however, this is not so in real life. This is evidenced by the fact that there is plethora of court cases that relate to...
It is not unusual to have insurance claims approved but payouts being underwhelmingly low and/or slow. This was mostly seen during COVID-19 in relation to business interruption claims. Whilst most claims were approved by the insurers, the payouts left the insureds...
Many policyholders are underinsured, whether it be deliberately or ignorantly so. Either way, it may just come back to bite them at the claims stage. Principle of average Underinsurance arises when the amount for which an object is insured is less than the actual...
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