force majeure

[midnightcaller]

Hi

Anyone know about this?
How does it work?
How does a company declare this ?
What are the pre requisites?
What if insurance companies declare this? How does it impact a consumer ?

If anyone has experience on the matter please share

 

[L-Dog]

Depends on the contract not sure what the application is in this instance? Force Majeure is an event which neither party could have predicted / avoided (Covid 19). For example clothing retail tenants will get rent relief as they are not able to operate in the period.

 

[midnightcaller]

I’m trying to understand this from a consumer perspective.

For example
I have insurance with OUTsurance and santam for cars , household content and structure

There is a claim that arises.
Can insurance company claim force majeure?

 

[L-Dog]

Will have to read through your T&C's but I doubt it. Your cars are still insured so is your house and your use for them has not changed. The force majeure might be something like a tornado or volcano that they might not cover