INSURANCE: Santam's Additional Cover For Cash
Recent Western Cape Business News
Cape Town's short-term insurance operator, Santam, is increasing cover by 50 percent for cash held on client premises during the current nation-wide truck drivers strike.
Lourens Joubert, Head Commercial Underwriting at Santam says the company has decided to increase the limit of cover it offers clients because present realities make it impossible for businesses to adhere to conditions of cover whilst the strike endures. There will be no extra cost to clients for the additional cover.
“Policies are clear. Cash is covered only if clients use approved transport service providers to take it to the bank. It’s difficult, if not impossible, for our clients to adhere to this condition during the strike, so we have decided to increase their cover for cash held on the premises during the strike.”
Augmented cover will apply to cash held on site only and will be valid until February 23. Cash in transit cover remains unchanged.
“Santam understands that the transport strike has created a difficult situation for many clients. We hope that this extension of cover during the strike will reassure and help them,” Joubert says.
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