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ITS MY HOUSE: OSTI predicts a rise in insurance claims due to the Earthquake

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GUEST – Valerie Mngadi – Assistant Ombudsman for Short term insurance

The Ombudsman for short-term insurance (OSTI) predicts that Insurance companies will be inundated with claims throughout this week from people whose businesses, houses, and household contents were damaged during the earthquake that hit many parts of South Africa on Sunday, 11 June 2023.

While most short-term policies in South Africa can cover earthquakes under acts of god, The Ombudsman for Short-term Insurance would like to issue a warning to the citizens of South Africa to ensure that their policies cover them adequately and are up-to-date. While earthquakes cannot be predicted, what you can do is be better prepared for unpredictable acts. One of the most important steps can be taking proactive steps by setting up your insurance policy in a way that covers you from natural disasters.
13 Jun 2023 5PM English South Africa Business News · Investing

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