Big risks for businesses in South Africa - including riots, blackouts and bad weather
Risks to business in South Africa are changing rapidly, and it’s keeping insurers awake at night, says Lizo Mnguni, spokesperson for Old Mutual Insure.
Mnguni said that Old Mutual Insure had noticed a significant increase in claims, especially power surges claims, given the frequency of outages. Recent data from Old Mutual Insure showed that the average annual CAT claims in the last ten years between 2012 and 2022 are ten times higher than they were between 2000 and 2011.
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