CLARITY – Will SASRIA pay for claims related to grid failure?
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GUEST – Mpumi Tyikwe – CEO Of South African Special Risks Insurance Association (Sasria)
SA's special risk state-owned insurer has withdrawn circulars announcing that it will no longer provide cover for damage to property caused during riots and protests in the event the electricity grid collapses. At the end of last month, Sasria issued circulars announcing that it would not indemnify people and businesses from "any loss, damage, cost or expense, directly or indirectly caused by, arising out of, in any way or to any extent contributed to by, or in connection with electricity grid failure". This exclusion applies to "any riot, strike or public disorder (including civil commotion, labour disturbances or lock-outs)" that are directly or indirectly caused by the grid failure.
SA's special risk state-owned insurer has withdrawn circulars announcing that it will no longer provide cover for damage to property caused during riots and protests in the event the electricity grid collapses. At the end of last month, Sasria issued circulars announcing that it would not indemnify people and businesses from "any loss, damage, cost or expense, directly or indirectly caused by, arising out of, in any way or to any extent contributed to by, or in connection with electricity grid failure". This exclusion applies to "any riot, strike or public disorder (including civil commotion, labour disturbances or lock-outs)" that are directly or indirectly caused by the grid failure.
