Claiming for protest damage

Following the most recent spate of protests at universities around the country, Justmoney looked into the application of Sasria on the relevant insurance claims lodged by the universities.

Thokozile Ntshiqa, executive manager of stakeholder management at Sasria, explained: “Sasria has a unique business model, since we do not sell Sasria’s products directly to the end-customers. We enter into agreements with other short-term insurance companies who then sell our products to the end-customer. The insurance companies also handle the day-to-day administration of the business and collect premiums on Sasria’s behalf. Therefore once the client has a Sasria related claim, they can submit the claim to the broker or insurance company that issued their policy, who will then collect all required documents and then submit the claim to Sasria.”

The Sasria website further clarifies the type of insurance cover it offers. “Sasria 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, as well as to government entities, against special risks such as civil commotion, public disorder, strikes, riots and terrorism. South Africa is one of the few countries in the world where anyone is able to buy extremely affordable insurance to protect their assets against these kinds of special, and potentially catastrophic, risks.”

As of yet, Sasria has not received any claims for damages from the most recent student protests at universities across South Africa. Ntshiqa noted: “Once a claim has been received by Sasria, it will be investigated to establish the nature and cause of damage, should such a claim fall fully within our perils, Sasria will then settle the claim accordingly.”

University of Cape Town

Justmoney contacted the University of Cape Town (UCT) about its insurance. “The University of Cape Town has an insurance policy with Sasria, which is a state-owned company and the only short-term insurer that provides cover against special risks such as civil commotion, public disorder, strikes, riots and terrorism.”

When asked about the cost of damages to the university, UCT responded: “An independent assessor assesses all damage and submits a report to our brokers. The brokers then submit all necessary documents to Sasria for their consideration. UCT has made an estimate claim amounting to R3 080 623.00 excluding VAT.”

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