How ballooning claims liability was cut more than R300bn at RAF
Fikile Mbalula says fund adopted ‘a more appropriate accounting treatment for social benefits’
07 June 2021 - 13:56
UPDATED 08 June 2021 - 19:55
Transport minister Fikile Mbalula said on Monday that the Road Accident Fund (RAF) slashed its ballooning claims liability as a result of an “accounting treatment” that he said had been reviewed by an auditing firm.
The minister said the RAF, the state-supported insurance fund compensating road accident victims, adopted a “more appropriate accounting treatment for social benefits, in line with its mandate, than the insurance contracts previously employed”...
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