Have you recently suffered damage by virtue of the rioting and looting thath took place during early July 2021 and have not claimed yet?

South Africa recently became the center of attention when the riots and looting were concentrated in two of its well-known provinces, namely KwaZulu-Natal and Gauteng. Businesses in these two well-known provinces, particularly, suffered irreparable harm and damage by virtue of the unrest. The consequences flowing from the unrest have ranged from the closing of businesses to the loss of jobs, to only name a few. But all is not lost! 

Can the little that is left still be salvaged? Indeed. Businesses that are insured are urged to revisit their insurance policies in order to ascertain whether or not their businesses are covered and insured for “special risks”. Special risks are damages caused by public disorder, civil unrest, riots and looting and/or lawful acts or attempts at preventing special risk damage. 

Although many risk insurance companies do not provide cover for special risks, many of the risk insurance companies are underwritten to cover for special risks by and through SASRIA. SASRIA, also known as South Africa’s Special Risks Insurance Association, insures companies against the risk of loss or damage to tangible assets, money, vehicles, equipment, consequential loss and business interruption.  

Businesses that are underwritten by SASRIA for special risks and/or damages and that intend to claim, need to be aware of the following: 

• Your claim is not against SASRIA. Your claim will be lodged with your insurance company, who will act as intermediary and in turn submit your claim to SASRIA.
  
  
• Your claim needs to be lodged as soon as possble in order for your broker to notify SASRIA. SASRIA claims must be made within 30 (thirty) days after your broker has been notified and/or after you have lodged your claim with your broker.
  
  
• Evidence of claims need to be gathered and submitted in order to substantiate the claim lodged. Evidence can vary from business to business, however, real evidence such as photographs and/or camera footage are often preferred and can assist accordingly. 

It is imperative for insured businesses that have suffered loss and/or damage by virtue of the unrest, riots and looting to revisit their insurance policies in order to ascertain whether or not they have been underwritten by SASRIA for special risk damage.

Being underwritten by SASRIA for these special risks might assist businesses with rebuilding not only their practice, but also their confidence.