Get cover for riots, public disorder
Looting, damage to property force a rethink on insurance policies
The recent spate of looting incidents and destruction to property, including damage to cars, has made it necessary for consumers to review their insurance plans and ensure they have cover against the risk of loss or damage caused by protests, riots, strikes, civil commotion and public disorder.
Commercial and personal insurance policies currently exclude any loss or damage to assets because of these types of events as insurers are precluded from underwriting these risks, making the South African Special Risk Insurance Association (Sasria) the only entity that provides short-term insurance cover for riots, strikes, terrorism, civil commotion and public disorder to businesses and individuals.
What is Sasria?
It is a state-owned company and the only short-term insurer that provides cover to all the people and businesses that have assets in South Africa, and government entities against special risks such as civil commotion, public disorder, strikes, riots and terrorism.
What cover does Sasria provide for individuals?
Vehicle cover: Its special risk insurance cover is available to consumers for the protection of personal vehicles, including trailers, against loss or damage caused in the event of a strike, riot civil commotion, public disorder or terrorism.
Home cover: This cover is designed to protect your house and household contents against losses or damage caused by a strike, riot civil commotion, public disorder or terrorism.
Chris Caalsen, a property manager at Aon South Africa’s commercial risk solutions division, said riot wrap-around insurance (available in the open insurance market) combined with Sasria cover is a comprehensive approach in covering the risk.
Speak to your broker to address any gaps that may exist in your insurance cover
“Without Sasria cover, businesses and private individuals caught in the crosshairs of violent protests and riot action, run the risk of significant uninsured losses,” said Chris.
“With South Africa being in a fragile position, it is crucial to speak to your broker or insurer to address any gaps that may exist in your cover. An expert in the field will also be able to identify any exclusions that may exist.”