South Africa and global insurance, financial institutions, banking and general law know–how
This blog was co-authored by Thabo Kolele, Candidate Attorney.
Claimants in South Africa who wish to avoid protracted and costly disputes are increasingly resorting to making secret settlement offers of the amount that they will accept that are “without prejudice save as to costs”. Such so-called Calderbank offers were first recognised in the English case…
Subrogation is a common law doctrine that allows an insurer who has indemnified its insured to step into the shoes of the insured and recover the loss from the wrongdoer. It is a well-established principle of insurance law that has been applied by South African courts for over a century.
In that light, the Road Accident…
An insurer assessing a life insurance claim may have valid reasons to defer its decision regarding payment to the beneficiaries until it obtains necessary information from third-party investigations, such as police officials. There is a rise in publicised cases of murder for insurance, and life insurers are right to defer payment in appropriate circumstances. However…
A September 2024 judgment of the Free State Division will be of interest to insurers who provide liability cover to municipalities, as the claimant succeeded in its cause of action against the municipality based on a water interruption which was entirely unexplained.
When a fire broke out at a scrapyard in Bloemfontein, the owner sued…
When a hailstorm damages your crops, you expect your Agri insurer to pay out according to your policy. But what if your crops are washed away by heavy rain before they can be assessed? This was the dilemma faced by a pecan nut farmer in the Northern Cape, who sued his insurer for over R9.6…
What is double insurance?
For there to be double insurance, the following requirements must be met at the time the risk insured against materialises:
Insurance claims handlers are tasked with navigating the intricate web of policy coverage, assessing damages, and ensuring prompt resolution for policyholders. Amidst the flurry of processing claims, it’s essential not to overlook a critical aspect of the role: the recovery process.
While the primary focus is often on addressing the immediate needs of policyholders, overlooking…
