Sasria pays out 80% of claims related to 2021 unrest
The SA Special Risk Insurance Association says it has paid out R24bn so far in claims relating to the civil unrest in KwaZulu-Natal and Gauteng
13 July 2022 - 15:21
byAndries Mahlangu
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An SANDF soldier patrols a looted mall In Alexandra, Joburg, July 2021. Picture: SUNDAY TIMES/ALAISTER RUSSELL
SA Special Risk Insurance Association (Sasria) said on Wednesday it had so far paid out R24bn in claims relating to the civil unrest that affected parts of KwaZulu-Natal and Gauteng a year ago.
The payout represented 80% of all claims lodged with the state-owned insurance company since the unrest, which at the time claimed more than 300 lives and cost the economy an estimated R50bn.
The state-owned insurance company said in a statement there were 6,800 outstanding claims with a total value of R7bn out of a total of 21,000.
Some of the remaining cases are complex as clients are still rebuilding, and in some cases they need to add the exact amount of the claim, Sasria said.
CEO Mpumi Tyikwe said the organisation was in a stable financial position, with enough capital required by the regulator.
Sasria covers specialised risks such as riots, terrorism, strikes and public disorder.
The civil unrest was sparked by the jailing of former president Jacob Zuma for refusing to appear before the Zondo Commission of Inquiry to answer to allegations of state capture, as required by the Constitutional Court ruling.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Sasria pays out 80% of claims related to 2021 unrest
The SA Special Risk Insurance Association says it has paid out R24bn so far in claims relating to the civil unrest in KwaZulu-Natal and Gauteng
SA Special Risk Insurance Association (Sasria) said on Wednesday it had so far paid out R24bn in claims relating to the civil unrest that affected parts of KwaZulu-Natal and Gauteng a year ago.
The payout represented 80% of all claims lodged with the state-owned insurance company since the unrest, which at the time claimed more than 300 lives and cost the economy an estimated R50bn.
The state-owned insurance company said in a statement there were 6,800 outstanding claims with a total value of R7bn out of a total of 21,000.
Some of the remaining cases are complex as clients are still rebuilding, and in some cases they need to add the exact amount of the claim, Sasria said.
CEO Mpumi Tyikwe said the organisation was in a stable financial position, with enough capital required by the regulator.
Sasria covers specialised risks such as riots, terrorism, strikes and public disorder.
The civil unrest was sparked by the jailing of former president Jacob Zuma for refusing to appear before the Zondo Commission of Inquiry to answer to allegations of state capture, as required by the Constitutional Court ruling.
mahlangua@businesslive.co.za
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