Risk insurer forecasts immigration protest damage claims
The South African Special Risk Insurance Association (SASRIA) says it expects an increase in claims from the damage caused by the current protests against undocumented immigrants. It has raised concerns about the financial and economic implications of the recent protests in Gauteng and KwaZulu-Natal.
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SASRIA says it’s worried that if the claims escalate, it may have to ask for more money from government.
Several buildings and vehicles were set alight during the protests.
SASRIA CEO Mpumi Tyiwe says there are further concerns about the broader impact of the protests, including income loss, disrupted trading and diminished investor confidence.
“There have been some claims from being looted and some fires. There were 14 or 15 cars that were damaged in Durban, yesterday and one at the Constitutional Court, today. If those cars are insured then they definitely do have such cover. So we do anticipate those claims to come through. We would rather prevent the claims from happening than when they happen, because when they happen, they’ve got an effect on us. Financially, we have to pay the claims. That’s what we are designed for,” says Tyiwe.
VIDEO | SASRIA fears rising claims from protest damage
