Tag: indemnity insurance
Rise in unnatural death insurance claims – how do these claims...
There have been reports regarding the rise of non-indemnity claims stemming from unnatural deaths. This is certainly worrying for life insurers. This is particularly concerning because life insurers have had to entertain several claims in the past couple of years due to COVID-19 related deaths, and subsequently, the July 2021 unrest and the 2022 Durban floods.
Why underinsurance could come back to bite policyholders
Many policyholders are underinsured, whether it be deliberately or ignorantly so. Either way, it may just come back to bite them at the claims stage. Underinsurance arises when the amount for which an object is insured is less than the actual value thereof.
