The SA Insurance Association has backed the R11bn in funding for the SA Special Risks Insurance Association announced in the medium-term budget, saying that unless the state-owned insurer is supported by the government, holders of insurance policies may not get cover for unrest-related events in future.
Sasria, which is SA’s only insurer of risks such as civil commotion, public disorder, riots and terrorism, has had its financial resources drained by the flood of claims that followed the roughly eight days of looting and violence that swept across parts of the country in July.
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