In South Africa, the short-term insurance (STI) industry made record profits during the pandemic. Businesses therefore no longer have a reason to further delay the settlement of all outstanding claims for business interruption due to Covid-19

A study conducted by Dr. Roelof Botha, economic adviser at Optimum Investment Group, and Keith Lockwood of the Gordon Institute of Business Science, reveals that many insurers are slow to pay commercial claims during the pandemic, while others have already complied. This document, published on July 6, 2021, focuses on the large disparity between the substantial financial gains made over the past year by short-term insurers and their customers. According to the report, total bonuses received in 2020 rose by 2.2% to a new record of 130 billion rand ($9 billion), while unaffected profits jumped by more than 20% to a new record of 53.5 billion rand (3.7 billion dollars), and total assets by 12 percent to 220 billion rand ($15.2 billion). Dr. Botha emphasized the importance of timely payment of these claims for the survival of small businesses, some of which are forced into bankruptcy in the event of lengthy court proceedings that follow the appellate route