Insurance Law News
More newsInsurance perils and more…
The recent floods in KwaZulu-Natal have triggered many insurance claims against insurers for losses suffered in connection with perils insured under a contract of insurance.
Assessing insurance claims in light of intentionally missed premium payments
In instances where someone fails to pay an insurance premium and it amounts to a repudiation of an insurance contract, the insurer need not provide an extension for the payment of a premium (grace period) regardless of the wording of the policy. This was held in the recent decision of the Supreme Court of Appeal (SCA) in the matter of Discovery Life Limited v Hogan and Another (389/2020) Zasca 79 (11 June 2021).
Cell captive insurers: The insurance of first party vs third party risks in cell structures
In our pilot article “ When being ‘captured’ is not a dirty word ” published in March 2020 , we briefly touched on the regulatory landscape relating to the conduct of insurance business by cell captives, particularly the extent of compliance by cell captive insurers with the Insurance Act, 2017 (Insurance Act), which ushered in the codified regulation of cell structures.