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Tag Archives | Sasria

Sasria provides government with perfect blueprint to resuscitate the economy

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 Minister David Masondo indicated that it was time to talk to the private sector to assist in addressing state failure. In a […]

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

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 KwaZulu-Natal and parts of Gauteng in July. In a statement issued jointly with National Treasury, Sasria said it remained liquid and continued […]

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Update on Sasria claims

Update on Sasria claims

National Treasury has reiterated that the government will ensure that Sasria can meet its claims obligations. Treasury deputy director-general Ismail Momoniat told the Money Show on Tuesday: “Right from the start, the president himself came out with a statement to say that government will stand behind Sasria. As government, we mean what we’ve said; we […]

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Sasria on its current state of liquidity

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 Finance on 7 September. In her presentation to the committee, Sasria’s financial director, Bajabulile Mthiyane, painted a bleak picture of the extent […]

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Sasria Update

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 by the end of this week. Following the riots, the insurance company says over 95% of all registered insurance claims are being […]

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Why SASRIA insurance is critical

Why SASRIA insurance is critical – The hidden cost of damages caused by civil commotion

The massive impact of claims for business interruption resulting from a reportable contagious disease last year, followed by the civil unrest recently, is a sober reminder of our duty to ensure that clients are covered against any and all possible losses. The cost of civil unrest Some put the insured losses, being damages for which […]

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Santam on outstanding CBI and SASRIA claims

Santam on outstanding CBI and SASRIA claims

With all the prominence given to this matter, it is difficult to believe that some 40% of Santam’s qualifying clients have yet to submit their claims documentation. Santam  issued another  appeal to clients with CBI policies, who previously indicated they would claim, to submit formulated claims and supporting documentation, so that these  can be finalised […]

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Relief Measures for insured and uninsured

Relief Measures for insured and uninsured

Last year, the insurance industry staggered under the impact of Covid-19. Life assurers had to fork out billions in death claims, and non-life insurers were caught unawares when the courts ruled against them in terms of business interruption claims resulting from the pandemic. This year, the scale of the unexpected looting and violence was such […]

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