Risk insurer forecasts immigration protest damage claims
SASRIA says if protest damage claims escalate, it may have to ask for more money from government
The South African Special Risk Insurance Association (SASRIA) is anticipating a rise in claims arising from the damage inflicted during recent protests against undocumented immigrants in Gauteng and KwaZulu-Natal. The organization has expressed concerns about the economic and financial ramifications of these demonstrations.
SASRIA's CEO, Mpumi Tyiwe, warned that if the claims escalate, the association may need to seek additional funding from the government. She noted that several buildings and vehicles were set ablaze during the protests, with 14 or 15 cars damaged in Durban and one at the Constitutional Court.
Tyiwe expressed additional worries over the broader consequences of the protests, including potential income loss, disruptions to trading activities, and a decline in investor confidence. She emphasized their preference for preventing claims from occurring rather than dealing with them after they occur, as the former allows the organization to avoid the financial burden of paying the claims.
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