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Compass ensures Limpopo region flooding claims are seamless

06 February 2012 Compass Insurance

The recent flooding disaster in January in and around Hoedspruit, located in the Limpopo region, after 300mm of rainfall was recorded over a 48 hour period, has resulted in a humanitarian crisis, but also millions of Rands of damage to both commercial and

In recognition of this crisis and in order to restore clients’ homes that were affected by the flood water as quickly as possible, Compass Insurance, the specialist South African short term insurer, in conjunction with its underwriting management agency, Thatch Risk Acceptances, has implemented special measures to ensure an accelerated claims payment process.

Natasja Blok, Managing Director of Thatch Risk Acceptances, estimated claims from the disaster for their clients to private residences so far amounts to R42 million. “This has been a tragedy for all of those concerned and we are committed to ensuring that our clients’ financial losses – in terms of their homes and contents – are settled and restored at the earliest possible opportunity.”

Paul Carragher, CEO at Compass Insurance, says the company takes the payment of claims extremely seriously. “Compass had its A+ rating on its claims paying ability reaffirmed by Global Credit Ratings last year and it is a key focus for us to back up this rating with our actions. Many people have been seriously affected by this crisis and we are doing all we can to ensure that at the very least they are able to have their claims settled timeously.”

Blok says there have been a number of efforts by various parties to assist in this recent crisis, including the Red Cross, which has donated time and money to help those affected. “Compass and Thatch are attempting to do its small part by offering an efficient, painless process of assessing and settling claims speedily, and we would like to urge other stakeholders to also take part in this collaborative effort to ensure that all of those who have been affected by this crisis are disrupted as minimally as possible.”

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