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SAIA Bulletin - October 2022

07 November 2022 SAIA

 

 

 

From the Desk of the Chief Executive: Viviene Pearson

We are now in the middle of the fourth quarter of 2022, and most organisations have hit the final descent button in preparation for that long-awaited December break. Like the other two or so previous years, this year also came with its own unique challenges that tested the industry’s resilience and resolve to deliver on its promise. 

One of the worst natural disasters took place in KwaZulu Natal where there was severe flooding and landslides caused by heavy rainfall on 11 to 13 April, resulting in the unfortunate death of 448 people, and displacing over 40 000 people. The heavy rains destroyed over 12 000 houses, while also severely damaging infrastructure. The severity and scale of the devastation prompted the President of South Africa, Mr Cyril Ramaphosa, to declare a national state of disaster. SAIA members were on the ground providing not only relief resources, but also providing valuable advice to the impacted property owners whose policies were valid on how to lodge their claims.

According to the Global Risks Report 2021, published by the World Economic Forum, the top four risks that are systemic in nature are extreme weather events, climate action failure, human environmental damage and infectious diseases, and it is without doubt that this year’s KwaZulu Natal floods were the biggest natural disaster to have happened to the insurance industry since the 2017 Knysna fires, which led to damage claims in excess of R7-billion. 

The industry has continued to experience the effects of some man-made potential disasters, one of which is the continued challenges faced by the state utility, Eskom, in the generation and distribution capacity of electricity within South Africa. The loadshedding which SA business and domestic dwellings have witnessed intermittently over the last decade or so continues to intensify. It is only natural for the industry to be concerned about the consequences this has on our members in terms of theft and domestic power surge claims.  

SAIA has over time, issued the public with a series of recommendations speaking to what one could do to protect their property and household contents during loadshedding. It remains our utmost hope that loadshedding will soon be a thing of the past, but until then, we will continue to issue these advisory notices to the public on how to mitigate loss for our members, business, and ordinary South Africans. 

Let me take this opportunity to thank all our member company chief executives and managing directors who made it to our highly informative CEO Roundtable held at The Venue, on 6 October 2022. Also, I would like to pass my sincere gratitude to all our valued stakeholders who made it to the Annual Cocktail Function at the same venue, on the same evening. It is always a pleasure to host you, and SAIA looks forward to hosting you again in the coming year. Lastly, I would like to congratulate the South African Association of Engineering Insurers (SAAEI), a division of SAIA, for a very successful conference held on 13 to 14 October 2022 at the Kloofzicht Hotel and Spa. 

 

Viviene Pearson
Chief Executive Officer


 

 

 

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