I dont really know where to post this. Technically I think it should go under scams but maybe it is seen as just bad business practice. I am posting here because it seems more general at the moment.

I have an insurance broker who makes use of Santam. Following a liquidation process on 2 clients (a CC and a PTY LTD) we suffered a R17,642 loss (R19,342 including the attorneys fee) as a result of bad debts. In accounting terms, accounts receivable.

We have insurance for accounts receivable, however the assessor claims it is only for physical damage to our books.

I would like to take this further as this policy is with Santam and following this link it defines accounts receivable under section 4.2.2.2.

What options do I have following an assessor who seems to think if the paper it is printed on is damaged then it is claimable?

Many of the descriptive policies in Santams insurance make clear not is it only for physical damage (ie not wear and tear), however when it comes to accounts receivable how is it possible to have physical damage, noting the damage to your bank asset is not deemed as physical damage either.