SOUTH Africa's only JSE-listed short-term insurer, Santam, said it had received about 2400 claims with an estimated value of R35-million for hail damage to cars and homes in Gauteng‚ as well as for storm damage in Port Elizabeth.
More than 400 of the claims so far were from Port Elizabeth.
Dial Direct Insurance senior executive Bradley du Chenne said the floods in the Eastern Cape had caused millions of rands'worth of damage‚ especially in the buildings and home contents insurance categories.
There are fears that claims could rise as heavy summer rains and floods could cause more damage. There are also concerns that short-term insurers might hike premiums come renewal dates.
"We've received close to 2000 claims for hail damage to cars and homes in Gauteng, primarily in the East Rand. Claims for storm damage in PE number close to 400‚" Santam said yesterday.
Momentum Short-Term Insurance CEO Brand Pretorius, said claims volumes on Monday were triple the normal daily average‚ making it one of the busiest days in the company's history. Pretorius said Momentum Short-Term Insurance guaranteed premiums for 12 months and would not immediately implement an increase.
Discovery Insure CEO Anton Ossip, said it was too early to comment on claims and the effect on premiums‚ but the company had put processes in place to assist clients.
Absa idirect managing director Jacques Pretorius‚ said: "Rain and floods usually have an impact on driver abilities and increase the potential for accidents whilst damage resulting from poor road conditions such as potholes also increases during these periods." – I-Net Bridge