SASRIA was established with the sole intention of providing insurance cover for special political risks such as political riot and terrorism.
At the end of April this year 27 trucks were torched and at least 18 trucks looted in on-going demonstrations against the employment of foreign nationals on our major highways. The Road Freight Association estimates damages were in the region of R205 million.
South Africa has a history of social unrest which can result in the loss of assets at a huge cost to companies. How can you protect yourself against losses incurred as a result of such events, most of which are not covered by regular insurance?
The answer lies in including SASRIA insurance in your insurance portfolio.
SASRIA was established with the sole intention of providing insurance cover for special political risks such as political riot and terrorism. It is the only short-term insurer that provides “special risk” cover to all individuals and businesses that own assets in South Africa, as well as government entities. This is unique cover against risks such as civil commotion, public disorder, strikes, riots and terrorism, making South Africa one of the few countries in the world that provide this insurance, particularly at affordable premiums.
By enabling businesses to restore their liquidity or operations quickly and efficiently after experiencing loss or damage due to special risk related events, SASRIA plays a significant role in preventing job losses, maintaining livelihoods, restoring pride and dignity and facilitating economic stability.
SASRIA is attached as a “coupon policy” to your main policy as a standard feature with your conventional insurer in respect of your buildings, vehicles and other assets.
As a vehicle or fleet owner faced with the daily concern that your vehicle and its cargo may be caught in the crossfire of social unrest, as has been the case for many unfortunate owners recently, the often “overlooked” benefit of the SASRIA cover is a substantial relief and prevents the occurrence of possible catastrophic financial losses.
The administration and claims in terms of the SASRIA cover is facilitated by the issuer of the existing main policy and an insured who suffers a loss due to a special risk event must first submit a claim to his insurer which will determine whether the claim relates to a SASRIA peril before submitting the claim to SASRIA on your behalf. Upon claim verification by SASRIA, you will be compensated for your loss.
With unprecedented levels of service delivery and socio-political demonstrations leading to potential significant damages to buildings, vehicles and other assets, SASRIA has a large part to play in the lives South Africa’s insured, at an affordable price.
Eqstra Financial Services is an authorised financial services provider offering its customers custom designed comprehensive motor cover, underwritten by Guardrisk Insurance Company, tailored to provide an accident control program resulting in overall fleet cost reduction. Through expert advice and a wide range of risk management initiatives, particularly in the commercial fleet space, we are geared to be your provider of choice when it comes to your insurable interests.
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