Legal Guard hopeful despite market turbulence

The insurance sector, one of many dented by the COVID-19 effects, has been recording high policy cancellations from clients who have lost incomes or jobs as a result of the pandemic.

Insurance is often seen as luxury by many, especially legal cover, and is among the spending items jettisoned first when tough economic times appear. Financial services giant, BIHL recently revealed that the difficulties encountered by customers in the first half of the year had manifested in policy lapses and an increase in the early maturity termination of investment portfolios by clients.