It's been a year since businesses were looted and damaged in the 2021 July unrest. Over 200 malls were targeted and thousands of businesses were attacked. The SA Special Risk Insurance Association paid out billions in claims. Muzi Dladla from SASRIA unpacks what the impact was. #DStv403
DURBAN - According to the South African Special Risk Insurance Association, numerous companies and people took advantage of the July unrest and filed false claims.
The association’s executive manager, Muzi Dladla, says the retail sector suffered the most.
Some entities claiming as much as R1-billion in damages.
Dladla said, "some of them, we are still investigating. We will get to the bottom of each of them. Others were even alerted by members of the community that certain property or business owners would make claim but did not suffer any damage, they would even move stock to another property and claim that it was looted."
"Majority of the claims that we paid came from property owners, mall owners, pretty much everyone who owns large property. Retailers suffered the most…some in excess of over R1.5 billion per entity. Between Gauteng and KZN…KZN is leading with almost 80-percent of the claims that came through. Gauteng amounts for about 20-percent.
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