Sasria will no longer provide cover for riot damage if the power grid collapses | Business

📆 2023-05-08 1:03 PM
📰 News24

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SA's special risk state-owned insurer will no longer provide cover for damage to property caused during riots and protests that could break out in the event the country's electricity grid collapses. | News24_Business

The decision by the South African Special Risks Insurance Association follows moves by SA's big short-term insurers who have pulled, or plan to remove, grid failure cover from their policies this year.

It will also not cover problems arising from disruptions to water supply, telecoms systems or sewerage, and losses from rotting food. Its"grid failure exclusion" comes after the reinsurance market urged Sasria to"eliminate our coverage for claims stemming from electricity grid failure".

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