Legal precedent set as Odendaal’s assets forfeited in Steinhoff fraud battle

The SARB has forfeited to the state cash totalling R42m from Berdine Odendaal’s bank accounts, as well as her R18m property in Paarl’s Val de Vie estate.

Potentially volatile election period ahead: do you have enough riot risk cover?

Sasria’s coverage limits may be insufficient for many large corporates, which will require additional cover in the form of a riot wrap policy.

Insurers and their clients count the cost of extreme weather

The insurance industry faces the challenge of striking a balance between affordability for clients and ensuring long-term sustainability amid the changing risk landscape.

97% of claims settled: Sasria pays out over R32bn in wake of 2021 riots

Could have, would have, should have – The Unrest, a documentary capturing the unfolding events of the July 2021 riots, bring old hurts to the surface.

Former Land Bank Insurance head takes over at Sasria

The South African Special Risk Insurance Association (Sasria) has appointed Mpumelelo “Mpumi” Tyikwe as its new chief executive, effective 7 April. Outgoing incumbent Cedric Masondo, whose term ends in May, is set to […]

Key trends in the short-term insurance industry

The South African insurance industry is a vital socio-economic sector that provides a critical safety net to society. This was crystalised in 2021 as we continued to grapple with the fallout from the […]

Government’s total allocation to Sasria is R22bn

The government has allocated a total of R22 billion to Sasria in the current financial year to enable it to settle claims and ensure it has sufficient capital to meet regulatory requirements, according […]

Short-term policyholder concerns, then and now

Events over the past year, both locally and internationally, have shifted the focus on a number of material terms and conditions in policy documents. Pre- and post-Covid A media release published in November […]

Sasria was not prepared for July 2021 riots

The South African Special Risk Insurance Association (Sasria) was “not sure” why its risk analysis programme missed the warning signs of the unrest in July, according to the “Report of the expert panel […]

Consumers ‘will feel the impact’ of higher Sasria premiums

Consumers are justifiably concerned about the impact of Eskom’s demand for a 20% tariff increase, but there’s another factor that could contribute to rising inflation this year: significantly higher Sasria rates on commercial […]

Sasria provides government with perfect blueprint to resuscitate ailing SOEs

Troubled state-owned entities have become the metaphorical albatross around the neck for the government, as was evident from the Minister of Finance’s recent medium-term budget. At the briefing to Parliament afterwards, Deputy Finance […]

Sasria pays out R5.8bn – will need more money from Treasury

The South African Special Risk Insurance Association (Sasria) has once again assured claimants that it has sufficient reserves, including through its reinsurers, to meet all valid claims arising from the unrest that rocked […]

Sasria pays out R5.8bn – will need more money from Treasury

Sasria on its current state of liquidity

Technically insolvent Sasria will “soon” announce premium increases for commercial clients as part of measures to restore the state-owned entity to financial health, Sasria managing director Cedric Masondo told Parliament’s Select Committee on […]

Sasria Update

According to Moneyweb, the South African Special Risks Insurance Association (Sasria) expects claims related to the unrest in July to amount to R20 billion, with 10% of the amount to be paid out […]