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While South Africa’s courts and regulators often turn to foreign law for guidance, the roles have been reversed for once. In a test case for COVID-19-related business interruption insurance claims in the United Kingdom (UK), its Financial Conduct Authority (FCA) is being influenced by a recent court judgment in South Africa.
Given the uncertain and challenging times 2020 has brought with it, individuals, entrepreneurs, SMMES and corporates have all cut back on essentials and have tightened up their belts once more.
Richard Green, national director of the South African Motor Body Repair Association (SAMBRA), says many motorists believe the engine is a vehicle’s toughest attribute when, in fact, the chassis is where the true strength lies – in collisions especially.
Findings from GlobalData’s 2019 UK Insurance Consumer Survey indicate that the most common reason for claiming on travel insurance was for costs related to medical expenses, with 30% of individuals who made a claim stating this reason.
If you had to choose one approach to protect your hard-earned investment cash from today’s market madness, which would it be?