Flood damages going to cost insurance companies millions

SABC News Floods St Johns 2 - Flood damages going to cost insurance companies millions

Mopping-up operations are underway after last week’s torrential rains in the Eastern Cape and KwaZulu-Natal.

The insurance implications following the natural disaster will have major implications for insurance companies, involving millions of rands.

Described as the worst floods to hit the provinces in a decade, houses were completely destroyed while others were  submerged under water.

Managing Director of Elite Risk Acceptances,  Christelle Colman, says the most recent claims have been motor related as well as damage to property.

“The damages are extensive and quite severe. It’s spread over quite a big area of KwaZulu-Natal so quite different from previous storms that we’ve seen,” says Colman.

She says resources that are available to assess and repair  homes are very stretched.

Colman says claims are still coming to the relevant claim centres.

Watch the full video below:

The post Flood damages going to cost insurance companies millions appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

11 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *