Weather event to be added to insurance claims
The South African Special Risk Insurance Association says it's in talks with government to extend its insurance coverage to extreme weather events linked to climate change.
SASRIA says it's been forced to act following the April 2022 floods, tornadoes, this year's veld fires, and the recent snowstorm in KZN that left thousands trapped on the N3.
The short-term insurer provides cover for risks like strikes, terrorism, and riots.
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CEO Tumi Tyikwe says they've also reached out to the country's finance minister about the plans.
"Government is working with the IMF and the World Bank to come up with diagnostics.
"Once those are concluded, then the minister will give us an indication that we should go ahead.
"We already have some business cases and business plans that we can submit for consideration."
