Special-risk insurer Sasria looks to potentially cap total payouts
High cost of unrest compensation hits insurer’s finances hard enough for it to seek a limit on payments
11 May 2022 - 17:36
The SA Special Risk Insurance Association (Sasria) — the state insurer that provides cover against civil commotion, including strikes and riots — says it is engaging with the National Treasury with the view to placing a limit on payouts in future unrest.
Sasria, which falls under the National Treasury, has warned that it is likely to rely more on government amid rising reinsurance premiums as a result of the July 2021 looting and unrest in KwaZulu-Natal and parts of Gauteng...
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