Cost of service delivery protests more than doubles to R1.7bn
The near doubling of costs is expected to push Sasria into its first underwriting loss since 1994
The cost of public protests has more than doubled in a year, according to state-owned insurer Sasria. In one of the first tangible indications of the cost to the private sector of service delivery protests, Sasria MD Cedric Masondo said it had recorded claims of more than R1.7bn in the 2018/19 financial year, from R800m in the 2017/18 financial year. The “massive” increase will push Sasria into its first underwriting loss since 1994. It is “the first time we’ve received so many claims and of such high value,” said Masondo.
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