The civil commotion playing out across South Africa over the past few days highlights the need for local businesses to not only have commercial non-life insurance cover in place; but for them to frequently assess the risk on cover and the sums insured.

Most broker-assisted businesses will have little trouble in meeting the aforementioned requirements, which is just as well given initial estimates of between R7 and R10 billion in damages claims following this unrest.

Unfortunately, the uninsured and those who took short cuts around initial policy onboarding or renewal processes, could run into trouble. The message from the country’s large insurers is clear: Insurance is not like manufacturing… And you cannot take a just in time (JIT) approach to placing assets on cover.

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