Johannesburg – Old Mutual’s short-term insurance division is urging other insurers to prioritise paying claims from small businesses affected by the civil unrest in KwaZulu- Natal and Gauteng.
The insurer has set a target to pay 80% of looting-related claims within three weeks.
Old Mutual has pledged R10 million towards the rebuilding of SMMEs affected by the looting and arson.
It is challenging other insurers who are working with Sasria to do the same.
Meanwhile, Sasria has given insurers the green light to start processing claims of up to R1 million.
