There are indications that not many individuals and entities were aware of SASRIA until only recently after the political riots in some parts of KwaZulu Natal and Gauteng.
The South African Special Risks Insurance Association (SASRIA) is a state-owned company under the National Treasury, listed under 3B of the Public Finance Management Act 1 of 1999, as a non-life insurance company. It provides cover to individuals, businesses and government entities that have assets in South Africa against loss due to special risks that are not normally covered by private insurance companies.
The risks covered by SASRIA include loss due to public disorder, strikes, riots, terrorism, civil commotion etc. SASRIA is funded by premiums from private businesses cover, which are usually part of business insurance policies and depending on the level of cover. In that vein, most business insurance policies have provisions for SASRIA cover.
If an entity needs to lodge a claim for processing and handling by SASRIA, the following procedure needs to be taken note of:
We urge parties to ascertain whether their private insurance specifically includes SASRIA cover so that one may rest in the peace of knowing that they are fully covered in events caused by public disorder, riots and violence.
At Van Deventer and Van Deventer Attorneys we assist with various aspects of Insurance law from appeals of rejected claims, claims process facilitation to advising on the implications of insurance cover. Insurance is a complex field and one can definitely benefit from our specialised service in this area of law. We also assist in various other areas of law as provided for on our website. Contact us for comprehensive assistance.
The information contained in this site is provided for informational purposes only and should not be construed as legal advice on any subject matter. One should not act or refrain from acting on the basis of any content included in this site without seeking legal or other professional advice. The contents of this site contain general information and may not reflect current legal developments or address one’s peculiar situation. We disclaim all liability for actions one may take or fail to take based on any content on this site.
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