SASRIA to extend coverage to include natural disasters and climate-related risks

SASRIA (South African Special Risks Insurance Association), in concert with the government, regulators and other relevant stakeholders, is examining the possibility of extending its insurance coverage to include climate-related risks and natural catastrophes.

South Africa and several other African countries are frequently affected by extreme weather phenomena, such as drought and floods.

Established in 1976 following the Soweto riots, the SASRIA pool specializes in political risk coverage. The pool must therefore wait for law reform before it can underwrite policies covering natural catastrophe risks.