DISASTER RISK
Car crash and wildfire claims to hit insurers after holiday carnage
SA’s largest insurers face higher claims for soaring road accidents and Western Cape wildfire damage
The festive season has not been kind to the country’s largest insurers and they expect car crashes – mostly in KwaZulu-Natal – and wildfires raging across the Western Cape to lead to a surge in claims. Transport Minister Dipuo Peters is due on Tuesday to deliver comprehensive statistics on national road accidents, which she has said had risen 16% year on year from December 1 to December 19 2016. The preliminary figures showed there were 684 fatal car crashes during that period in which 845 people had died. But short-term insurer Hollard said it was difficult to assess the holiday season right now. "A clearer picture is only expected to emerge over the next week or so," said Marvin Tshezi, claims manager in Hollard’s personal lines business. Mutual & Federal, another short-term insurer, said it would only be able to share its statistics on vehicle claims next week. Wildfires, which broke out in the Western Cape last Wednesday, have taken a toll on insurers. Santam estimated total cla...
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