The Financial Sector Conduct Authority (FSCA) recently published a press release, titled Statement on SASRIA SOC Limited insurance claims, noting the civil unrest, riots and looting that have been happening in various parts of the country.
The FSCA has been in discussions with SASRIA Soc Limited (SASRIA), which is the only non-life insurer that provides special risk cover in South Africa for risks such as civil commotion, public disorder, strikes, riots and terrorism.
In these discussions, SASRIA confirmed to the FSCA that it will settle claims where the relevant cover is in place. The FSCA has therefore urged SASRIA policyholders affected by the unrest to submit their claims directly to their insurers, who will then engage with SASRIA on the specific claims.