SASRIA Claims for KwaZulu-Natal (KZN) and Gauteng

SASRIA Claims for KwaZulu-Natal (KZN) and Gauteng

The president of South Africa has announced a range of measures to help businesses rebuild in South Africa, especially in KwaZulu-Natal (KZN) and Gauteng over the recent unrest. One of such measure is SASRIA.

Sasria SOC Ltd is the only short-term insurer that provides special risk cover to all individuals and businesses that own assets in South Africa, as well as government entities.

Sasria covers the following risks: – Terrorism – Public disorder – Strikes (e.g., labour unrests, etc.) – Riots – Political (e.g., service delivery protests, etc.) – Non-political (e.g., student riots, commuter agitation, etc.)

Will Sasria cover the recent unrests KwaZulu-Natal (KZN) and Gauteng 

Answer: Damage and looting as a result of recent riots in KZN and Gauteng from the 9th of July to the 16th of July are claims that falls into the ambit of Sasria perils. Sasria has been consistent that all valid claims submitted to Sasria will be paid by Sasria.
To avoid fraudulent claims, our claim’s process requires us to to assess each claim on its own merit and circumstance and in order to assess the merit of a Sasria claim, the Sasria claims procedure should be followed:

All claims must be registered with the relevant underlying insurer (Agent Company)
in order for the Agent company to investigate the circumstances that led to the claim.
• The onus of proving Sasria merit resides with the Agent company who on
determination of the merit will reject the underlying claim and lodge a claim with Sasria.
• The Agent company/Insurer will provide all relevant information needed for Sasria to
establish the merits for liability.

Question: Did Sasria anticipate or consider the possibility of major losses of this magnitude?
Response: In our 42-year history, Sasria has not witnessed any incident of this magnitude. To date, we have always been able to settle claims from some of the biggest incidents including the trucks that were torched in KZN.

Question: Has Sasria quantified the risk in financial terms.
Response: We take note of the uncertainty around the quantification of the losses or damages that have resulted from the current unrest. At this stage we do not know the full value of Sasria claims as a result of these riots as most claims have not been reported and most are still being investigated by the Loss Adjusters. We anticipate that in next couple of weeks, we will have a clearer picture once all claims have been reported and investigations and quantification have been completed.

Question: What is the turnaround time for valid claims? How quick will they be processed?
Response: Sasria has extended the mandates of the agent companies/insurers to settle all claims under R1million to affected claimants.
Together with our distribution partners we have appointed Loss Adjustors and Assessors that have started on assessing the extent of damages and we have already started paying claims. In the next three weeks, our focus is to get all claims registered and Loss Adjuters appointed. In addition we want to settle all small valid claims that are below R1 million and start paying interim payment for big claims so that this big commercial and big corporates can start the rebuilding processes.

Question: Is the business fraternity and consumer market aware of your offerings?
Response: We distribute our products via our agent companies and broker fraternity, and they would advise the clients on Sasria cover. However, in addition clients can access Sasria cover/product offerings information via our website, social media pages and various advertising campaigns we run.

SASRIA OFFERING

Primary Cover: This cover will ensure that our clients’ assets are insured for up to R500 million.
Wrap Cover: For corporate clients, Sasria offers additional cover of up to R1bn

Who qualifies to buy Sasria cover?
Answer: Sasria cover is available to individuals and businesses that have property situated within the borders of South Africa, as well as South African waters.

How do I claim from Sasria?
Answer: Claims are sent to Brokers and Insurers who then send them to Sasria for
verification and processing.

How do I buy Sasria cover?
Answer: Sasria cover is bought through insurance companies (referred to as Agent companies) who are responsible for the administration of Sasria cover. Clients who have brokers can speak to their brokers to arrange Sasria cover for their assets, on their behalf.

SASRIA Claims for KwaZulu-Natal (KZN) and Gauteng

Israel Wellington Jeremiahhttp://empowermentopportunities.com
Israel Wellington Jeremiah is the Admin and publisher at Empowerment Opportunities. A seasoned online publicist and an entrepreneur.

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