Old Mutual to pay $40 million in COVID-19 claims

South African insurer Old Mutual Ltd. plans to pay more than 650 million South African rand ($40 million) in COVID-19 pandemic-related business interruption claims to small and medium enterprises with infectious disease cover, Moneyweb reports. Old Mutual's move follows similar announcements by Santam Ltd., The Hollard Insurance Co. Ltd. and Guardrisk Insurance Co. Ltd.

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