Sasria’s R15bn may not be enough to pay unrest claims

Bankers pitching in to help those not covered by the state insurer

01 August 2021 - 00:06 By HILARY JOFFE and hilary joffe

Claims for damages related to the recent violent unrest could go well above the R15bn that the state-owned South African Special Risks Insurance Association (Sasria) has said it has available, and the government may have to come in with more than the R3.9bn it allocated to Sasria as part of the relief package announced this week.

Industry players say Sasria has been responsive to the need to pay out claims quickly, and banks and short-term insurers have rallied to help it process the huge volume of claims and get the money out as fast as possible to businesses hit by the unrest...

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