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South African riots to cost $1.7 billion in insurance claims – SASRIA

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THE rioting that erupted in parts of South Africa in July over former President Jacob Zuma’s imprisonment caused damage worth $1.7 billion (25 billion rand), according to the state insurance company handling the claims.

More than 300 people died and more than 200 shopping centers were looted in the KwaZulu Natal and Gauteng provinces when rioters ransacked shops and stole groceries, liquor, electrical appliances and clothes, according to official figures. Factories and warehouses were also robbed and burned.

The unrest damaged South Africa’s economy with freight trucks burned in KwaZulu-Natal, shutting key highways used to ferry goods from Indian Ocean ports to the other parts of the country.

Sasria, South Africa’s government insurance company that covers special risks like public disorder, riots and terrorism is now seeking funds from President Cyril Ramaphosa’s government to cover all the claims from businesses and individuals who suffered damages during the riots.

According to

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