Legal Articles

Business Interruption – Will Claims Exceed SASRIA’s Capital War Chest?

In a statement on 28 July the Minister of Finance estimated that the damage in KwaZulu Natal alone stands at R15 Billion, which by far exceeds the capitalisation of the public entity which is liable for loss emanating from public disorder, riots, and violence, being SASRIA.

Understanding SASRIA – Your Questions Answered Part II

SASRIA is an acronym for South African Special Risks Insurance Association which is a short-term insurance public entity listed under Schedule 3B of the Public Finance Management Act 1 of 1999, owned by the State and under the control of the National Treasury.

Understanding SASRIA – Your Questions Answered Part I

Owing to the recent protests and looting in some parts of Kwa-Zulu Natal and Gauteng, there has been much talk in the media and streets about the South African Special Risks Insurance Association (SASRIA) and its role as a short-term insurance public entity.

The Process of Sasria Claims – Brief Guidance

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.