How ballooning claims liability was cut more than R300bn at RAF
Fikile Mbalula says fund adopted ‘a more appropriate accounting treatment for social benefits’
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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