Sasria rules out unrest claims if power grid collapses
The state-owned insurer has joined private ones in preparing for a potential total malfunction
07 May 2023 - 16:04
State-owned insurer the SA Special Risk Insurance Association (Sasria) has joined private insurers in preparing for a potential total collapse of the national electricity grid by informing its clients that should it occur, policyholders cannot claim for damages.
In the event of a grid collapse, which could trigger civil unrest similar to that experienced in July 2021, Sasria has informed its clients that the “reinsurance market has been urging [it] to eliminate [its] coverage for claims stemming from electricity grid failure as a result of the unprecedented levels of load-shedding”...
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