Damage to Stor-Age Waterfall claimed from Sasria - R83 million plus VAT

PaulMurkin

Senior Member
Joined
Jan 31, 2020
Messages
520
SASRIA is bankrupt - I really feel for the people insured by them...

I was told they're not bankrupt. Anyway, when I was with Outsurance many years ago I had to pay a part of my premium to SASRIA... didn't know what it was for back then, until recently I found out..
 

Gordon_R

Honorary Master
Joined
Jul 5, 2009
Messages
18,132
I was told they're not bankrupt. Anyway, when I was with Outsurance many years ago I had to pay a part of my premium to SASRIA... didn't know what it was for back then, until recently I found out..

They may become insolvent, but not bankrupt, because they have an unlimited government guarantee. SASRIA is administered under an Act of Parliament, and overseen by SCOPA.
 

Rayne

Active Member
Joined
Jan 22, 2013
Messages
67
From what I heard they doing an initial partial to get businesses going.. either that or what I heard on radio discussing this is wrong or his situation is different.
Thing is people will get caught by this he showed me his agreement of loss its full and final.
 

Bonywasawarrioraway

Expert Member
Joined
Aug 23, 2020
Messages
1,108
Totally different scenario though. US can keep on doing it without much consequence (compared to SA doing it) as long as euros & pounds keep on printing. Also printing money term is a misused at times. I will try to find article.
The US can continue to do it (although they are treaty bound not to) because the demand by countries for dollars to buy oil keeps the value of the dollar artificially high.
 
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