An increasingly restive populace pushes Sasria payouts to a record high
STATE-owned special risks insurance company Sasria received R729m in claims last year, the highest in its history and largely attributable to political, student and labour unrest.This was a significant 39% increase over the R525m in claims received in the 2014-15 financial year.Sasria provides short-term insurance cover against the loss of or damage to assets caused by special risk events that are not usually covered by commercial insurers.Of the R729m claimed, 50% related to service delivery protests compared with 39% the previous year, 29% (58% previously) to labour issues and 18% (3%) to student protests, according to the company’s 2015-16 annual report tabled in Parliament Thursday.In total the insurer received 2,262 claims, up slightly from 2,259.The report noted that over a two-year period, the frequency of claims increased by 51% and the value by 77%.Claims arising from student protests amounted to R134m and from service delivery protests to R110m.The biggest single claim rec...
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