Business News: Sasria Says It Is Prepared for the Biggest Claim in Years

Business News: Sasria Says It Is Prepared for the Biggest Claim in Years

  • Special Risk Insurance Association managing director stated that due to the chaos in Gauteng and KwaZulu-Natal, insurance claims have accumulated
  • Insurance policies of businesses include a number of covers that are specialised and related to damages from the riots
  • Sasria stated that a claim has to meet certain criteria which is explored by Briefly News in the below article

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South African Special Risk Insurance Association (Sasria) managing director Cedric Masondo has just made his way into a massive issue that may not be able to be sorted out with the amount of money Sasria has. Due to the disorder in KwaZulu-Natal and Gauteng, insurance claims that have accumulated due to the looting and damages are quickly adding up.

The insurance policies of businesses most likely included specialised cover related to damages resulting from riots, granted by the South African Special Risk Insurance Association (Sasria).

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According to Sasria, a claim must meet a set of criteria. This includes any action that is strategised or targetted to cause loss or damage in an attempt to expand any political agenda or to cause any social or economic change; or in protest against any state or government.

This continues on to any riot, strike or public disorder, or any attempt to cause a riot, strike or public disorder.

Business News, Sasria, prepared, biggest claim since 1994
Sasria says it is preparing for the biggest claim in the country since the end of Apartheid. Image: GUILLEM SARTORIO / AFP
Source: Getty Images

Following reports by Moneyweb Sasria estimated that approximately 800 stores have suffered due to looting and/or major damages with 100 malls suffering critical fire damages. A few distribution centres in Durban have also been subjected to damages and looting

According to IOL, Sasria managing director Cedric Masondo stated that the organisation had been obtaining claims from clients since Saturday and had set up teams to evaluate the damage.

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Former SSA intelligence official Thulani Dlomo denies being an instigator

Briefly News recently reported after multiple reports by news outlets alleging that former State Security Agency intelligence officer Thulani Dlomo was identified as one of the 12 instigators of the violent protests that led to looting and destruction of infrastructure in KwaZulu-Natal and Gauteng, Dlomo denies all involvement.

News24 broke the news that three reliable and well-placed sources confirmed to the publication that Dlomo's name was handed over to the police for investigation earlier this week.

The publication went on to further says that Dlomo was a loyal Zuma supporter and was at the centre of the unrest that operated under the 'Free Zuma' banner in the past week.

Dlomo has broken his silence and called out media publications that ran with the story of his involvement, according to a report by IOL. Dlomo stated that when the attacks started he was approached by state officials who asked him to assist them in putting an end to it.

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Source: Briefly News

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