A Reflection On 2021 Insurance Law Major Occurences

The past few years have tested the resilience and strength of insurers to the greatest magnitude. This has been the case worldwide and, more so, here in South Africa. Many insurance-triggering events occurred, requiring insurers to respond. Although most of these occurrences were relevant mainly to short-term insurers, some were relevant to long-term insurers. After all, both belong to the same industry and, an occurrence of a major event is ordinarily likely to affect both. This will become evident during the course of the discussion hereunder. This piece will therefore specify some of these major occurrences and briefly discuss the lessons or reminders that can be deduced from such occurrences, for both the insureds and the insurers.