Santam partners with eThekwini after taking a R4.4bn hit from flooding
The assistance mirrors similar initiatives by other insurers trying to limit the effects of government failure
27 November 2022 - 16:45
Santam has become the latest insurer to take proactive steps to mitigate poor local government administration in an attempt to reduce its risk exposure.
Last week SA’s biggest short-term insurer signed an agreement with the eThekwini municipality to bolster the metro’s ability to handle future catastrophes such as floods, fires and droughts. The move comes after the devastating floods in KwaZulu-Natal in April and May, which cost Santam an estimated R4.4bn, making it the largest natural catastrophe in its 104-year history...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.