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Tag Archives | KwaZulu-Natal floods

kzn-floods

Global warming warnings: insurers must heed the KZN floods

The extensive flooding and landslides experienced on stretches of the KwaZulu-Natal coastline on 11 and 12 April should serve as a warning to the general population, and more pertinently, to South Africa’s non-life insurers and reinsurers that the country is no longer insulated from extreme weather catastrophes. In fact, all stakeholders in the insurance value […]

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kzn-floods

KZN floods are the biggest natural catastrophe in Santam’s history

Santam’s current “best estimate” of its gross exposure to the KwaZulu-Natal floods in April is R3.2 billion. However, reinsurance cover will limit the net impact to about R500 million, it said in a trading update. South Africa’s biggest short-term insurer said that, based on its internal modelling, April’s floods were a “one in 25-year event” […]

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flood-relief

Freedom’s just another word

The government’s call for assistance from the business world to get the economy going again is hopefully a welcome change in the view that private enterprise is in competition with it. The perceived success of the president’s investment summits is a clear indication that businesses, both local and international, are willing to participate to restore […]

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KZN-floods

Insurance update on KZN floods

The South African Insurance Association (SAIA) says the damage to infrastructure in KwaZulu-Natal as a result of the floods already exceeds R1.1 billion, which was the estimated cost of damage after the flash floods in the province in 2019. In a statement, SAIA said the devastation and loss of lives make this month’s floods the […]

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