Big win for hospitality sector after appeal court rules...
The lockdown – and not government action – resulted in business closures and losses, which means short-term insurers will now have to pay their clients. On Thursday 17 December the Supreme Court of Appeal (SCA) ruled in favour of Cape Town restaurant Café Chameleon in its case against insurer Guardrisk. The ruling, made with a costs order, was welcomed as precedent-setting because it could close the door on the controversy around the business interruption (BI) insurance claims. But for insurers, it’s a potentially ruinous lesson about shoddy underwriting as it will set them back bill...