Non-life / Commercial

National lockdown will not serve as a trigger for your business interruption cover

Small businesses hoping that their business interruption (BI) insurance would somehow perform for losses consequent to South Africa’s national lockdown were dealt a hammer blow last week, when the Financial Sector Conduct Authority (FSCA) stated that lockdown “could not reasonably be interpreted to be a trigger for a valid BI insurance cover claim”. Their Communication 34 of 2020, published 18 June, confirmed the regulator’s position on various aspects of BI insurance cover.

The FSCA’s position on BI Claims

Developments and issues in the construction and engineering insurance and reinsurance markets

At AGCS we currently see a number of developments and issues shaping the construction and engineering insurance and reinsurance markets. First, and foremost, is obviously the ongoing impact of the coronavirus pandemic. The global lockdowns and resulting shuttering of many engineering and construction sites are likely to lead to aggravated risk in a number of areas.

Hand Sanitiser poses new risk to retailers

Retailers could potentially face a new surge of class actions and personal injury claims for negligence regarding the use of harmful products. This follows the news that some South Africans have reported developing a rash after exposure to hand sanitiser dispensed at store entrances.