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Sasria pays out R5.8 bn to businesses affected by looting in KZN and Gauteng

The SA Special Risk Insurance Association (Sasria) has paid more than R5.8bn in claims to businesses affected by the July unrest and looting in KwaZulu-Natal and Gauteng, the state-owned short-term insurer said on Monday.

KwaZulu-Natal was thrust into a state of chaos after supporters of former president Jacob Zuma protested about his arrest.

The demonstrations quickly escalated into unrest and looting which saw businesses being set alight and looted.

The SA Property Owners Association (Sapoa) said the unrest cost R20bn of KwaZulu-Natal’s GDP and R50bn of the national GDP.

Sasria MD Cedric Masondo said there are ongoing discussions about how the insurer can be “future proof ready and acknowledge the lessons learnt” from the unrest. 

“Sasria continues to play a key role in the insurance industry. We urge clients to continue and maintain their policies with Sasria and would like to assure them of our determined resilience to maintain our excellent relations”, said Masondo.

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