Sasria has partially backtracked on its statement that it would no longer cover claims resulting from a catastrophic collapse of South Africa’s electric grid.
Weimar said that “it almost happened in February”, with electricity demand almost outstripping supply, in response to a question about the possibility of a total blackout.Sasria retracts grid collapse cover cancellationthat although the insurer has retracted an April circular informing policyholders they won’t be covered for grid collapse claims, the reprieve may be short-lived.
“We have agreed to consult further around these issues. By the end of the month, we will have answers, and then we’ll plot a way forward.” GIB said widespread looting and unrest would likely occur in the event of a grid failure, adding that Eskom would probably face challenges in restoring power due to severe infrastructure damage across the country.
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