State-owned, short-term insurer, Sasria, says only 1% of the 14 050 claims after the looting and violence in Kwa-Zulu Natal were rejected. Sasria says the latest capital injection of R11 billion from National Treasury will go a long way in paying the outstanding claims from the July unrest.
Sasria now estimates the value of the claims to be R32 billion while a total of R12.5 billion has already been paid out.
“We do not merely reject claims, but we reject (invalid) claims based on valid reasons. And the rejections that we have received, about 80% of those claims that’s gone through about the 130 rejections has been due to no cover within the policy terms and conditions. That would be the biggest portion of rejections that we’ve received or no premium payable. That would be the other reason,” says Fareedah Benjamin, Operations Executive at Sasria.
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