Business interruption: Hollard Insurance Namibia sued

Gondwana Collection, a tourism company, has filed a complaint against Hollard Insurance Namibia in the High Court.

According to the plaintiff, the Namibian insurer is deliberately delaying the business interruption claim settlement of the company following its cessation of activity due to the pandemic. Gondwana Collection's losses amount to 638 million NAD (43 million USD).

Before going to court, Gondwana filed a complaint against Hollard Insurance with the Namibia Financial Institutions Supervisory Authority (Namfisa) which has opened an investigation.