In an appeal judgment (Reitz 21 CC v Siebrits and Others (A91/2023) [2024] ZAGPPHC 70 (31 January 2024) (saflii.org)) the lease agreement dealt with rental of student accommodation. The lessee sought remission of the rent because the Covid-19
Financial Institutions Legal Snapshot
South African banking, finance and insurance law know-how
Latest from Financial Institutions Legal Snapshot - Page 2
$3.7 million pool damage claim not insured because of business risk and professional liability exclusions (US case)
An insurance coverage dispute arose out of the construction of a “disappearing floor pool” at a residential home in Montana, US. The pool and spa included several water features such as an infinity edge, a basin to catch water overspilling…
The importance of listing the insured properties in a policy schedule (US case)
In 2021, a warehouse developed by a property developer and already occupied by the tenant collapsed during a tornado causing injuries and deaths. The developer sought an indemnity under its insurance policy covering bodily injury and property damage liability. The…
Unpacking the urgency element in restraint of trade applications
In modern employment contracts, restraint of trade clauses are commonly inserted to protect the employer’s proprietary interests. The purpose thereof is to prohibit an employee for a specified period and prescribed geographical area from taking up employment with a direct…
An “accident” includes successive events without interruption, under the Montreal Convention
In a claim for damages for personal injury arising from an event on the defendant airline, the Court of Justice for the European Union found that, for the purposes of Article 17 of the Montreal Convention, an accident can be an…
The Material Misrepresentation and Non-Disclosure: Fire Insurance
The plaintiff insured instituted action against the defendant insurer, in relation to a claim arising from a fire on the insured farm (in May 2015) which the plaintiff alleged resulted in damage in the sum of around R14 million. The…
Dishonest Insurance Claim: Materiality
The insured instituted a claim against the respondent insurer for payment of the replacement value of his stolen motor vehicle. The claim was rejected by the insurer, who alleged that the insured had supplied it with dishonest information when making…
An insurer is not a CPA Supplier
The applicant submitted a claim to his insurer, water leakage of his motor vehicle in June 2020. Two days later the insurer collected the…
What is a ‘claim for damages’ under a claims-made insurance policy? (US)
Under a “claims-made” liability insurance policy, whether a communication to the insured constitutes a “claim” or a “claim for damages” determines whether the policy is applicable to the claim. The Delaware Supreme Court held that an unclear and amorphous letter…
Donor/settlor intention is relevant when interpreting a trust deed
In a November 2023 judgment the High Court dealt with the principles of interpretation applicable to a trust deed. The question centred around which beneficiaries of the trust were entitled to a capital payment. The donor had since died and…