Insurer Sasria in a good position as risks become heightened and more widespread.
Escalating claims for losses incurred through service delivery protests, strikes and student protests have tested the strength and sustainability of state-owned insurer Sasria SOC Ltd.
Sasria, the only short-term insurer that provides individuals, businesses and government affordable cover against special risks – including civil commotion, public disorder, strikes, riots and terrorism – has managed to handle rapidly escalating claims, stay profitable and remain one of the few state-owned companies (SOCs) to get a clean audit and not put a strain on the fiscus.
It’s recently released annual report shows that service delivery protests accounted for 76.6% of claims in the year to end-March. Read more