THE South African Special Risk Insurance Association (Sasria) has to date paid out R5.8 billion in claims to businesses that suffered damages during the July unrest in KwaZulu-Natal and Gauteng.
This was on Monday revealed by the National Treasury and Sasria in a joint statement. The two said that work had been underway to address the damages incurred and assist businesses to start operating again.
In the wake of the unprecedented chain of events that saw businesses looted and razed, government unveiled various interventions to support the affected establishments.
Sasria has made important business interventions, namely capital and reinsurance restructure, and government, as the sole shareholder, has committed to stand in as the entity’s insurer of last resort. Government committed to enable Sasria to meet all its policyholder commitments.
In the statement, Sasria Managing Director, Cedric Masondo, said: “Our discussions with National Treasury are in line with the desired determination
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