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Untold damage due to civil unrest – only one insurer covers it

13 July 2021 1:24 PM
Tags:
Looting
Insurance
Personal finance
Mandy Wiener
midday report
civil unrest
Sasria
Cedric Masondo

Mandy Wiener interviews Cedric Masondo, Managing Director of state-owned insurer Sasria.
  • Damage claims related to civil unrest is not covered by commercial insurance companies

  • State-owned Sasria provides cover in this regard

  • It has a dedicated team to deal with claims arising for events of the past few days

  • It aims to pay out within a week, once it has all supporting documents and the amount is small


© bowie15/123rf.com

State-owned insurer Sasria will pay claims related to civil unrest.

If the claims are small enough, it will pay within a week after having received documented proof.

Sasria is the only insurer in South Africa that will pay claims related to civil unrest.

The state-owned insurer does not do direct business with the public, but it is included in most commercial insurance policies.

Mandy Wiener interviewed Cedric Masondo, Managing Director of Sasria (scroll up to listen).

These claims are not covered by normal insurance…

Cedric Masondo, Managing Director - Sasria

Sasria is adequately capitalised… We have assets and cash… The only issue is capacity to deal with the number of claims… to process them quickly.

Cedric Masondo, Managing Director - Sasria

Once we’ve got all the documents, we pay within a week… We automate small claims… We’ve got more people. For this event, we have a team of specialised people…

Cedric Masondo, Managing Director - Sasria



13 July 2021 1:24 PM
Tags:
Looting
Insurance
Personal finance
Mandy Wiener
midday report
civil unrest
Sasria
Cedric Masondo

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