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Statement by the South African Insurance Association on interim relief for infectious disease claims

30 July 2020 | SAIA - South African Insurance Association

The South African Insurance Association (SAIA), the representative body of the non-life insurance sector, welcomes the understanding reached between certain non-life insurance companies, the Financial Sector Conduct Authority (FSCA) and the Prudential Authority (PA) on interim relief with respect to claims for business interruption cover on policies that have an infectious disease extension.

No business without Compliance and Risk Officers

28 July 2020 | General

There cannot be any doubt that the coronavirus disease of 2019 (Covid –19) has redefined the world in general and the work environment in particular.

SAIA Successfully Holds Annual General Meeting (AGM) 2020

28 July 2020 | SAIA - South African Insurance Association

At its first ever virtual Annual General Meeting (AGM) held on 23 July 2020, the South African Insurance Association (SAIA) successfully nominated a new SAIA Board of Directors composed of non-life insurance member companies, reinsurance companies and state-owned enterprise chief executives and managing directors.

FSCA’s latest stance on Business Interruption insurance cover

27 July 2020 | Financial Sector Conduct Authority (FSCA) (was FSB)

The Financial Sector Conduct Authority (FSCA) and the Prudential Authority (PA) (Authorities) have reached an understanding with non-life insurers that are most affected by business interruption cover claims that they will consider interim relief to their policyholders who have the appropriate contagious disease extension, while legal certainty on this matter is being sought from the courts.

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