This serves as a general communication to Santam shareholders with regards to the business environment for the four month period ended 30 April 2017.
Five million people stand to benefit from the extension of the Partnership for Risk and Resilience (P4RR) between leading short term insurer,
With the July school holidays here and many homeowners planning on going on vacation, short-term insurer Santam has put together a guide to help people make sure their home contents are properly covered before they shut their suitcases and close the front door.
The recent spate of fires in the winelands of the Western Cape has again brought the issue of the wine producer’s risk to the fore, with a number of wine farms being adversely affected. Shehnaz Somers, head of commercial underwriting at Santam said the company is still assessing the damage and loss as a result of fires spreading to well-known vineyards and guest farms in the winelands and surrounding areas over the past month.
Forecasts for neutral to La Niña conditions still remain valid with borderline La Niña conditions currently present. The expected rainfall in the first part of October over the eastern summer crop production areas did not occur but conditions are still favourable for rain in the second part of October. Cumulative rainfall forecasts until the end of December 2016 from the accuweather.com website indicate that between 300-400mm of rain is possible over the eastern areas.
Having the correct comprehensive insurance in place is a legal requirement, however insurers can have legal recourse should it be found the conditions of the contract between the insurer and the insured has not been fully met in the event of a claim.