South Africa Special Risk Insurance Association, better known as Sasria, has told clients it won’t pay claims for damage related to a collapse of the national electricity grid, Business Day reported (paywall), citing a circular from the company.
The announcement by the state-owned insurer comes less than a month before the start of winter. State-owned power utility Eskom has yet to release its official system outlook for the winter months, when energy demand is expected to increase.
“Your Sasria policy will not indemnify you for any loss, damage, cost or expense, directly or indirectly caused by, arising out of, in any way or to any extent contributed to by, or in connection with electricity grid failure,” the company said in the circular cited by Business Day.
Read: Shock increase in Sasria premiums after July looting
The economy has been dogged by rotating blackouts since 2008. Eskom is currently implementing stage-6 load shedding where it removes as much as 6GW of capacity from the grid. — (c) 2023 Bloomberg LP