Santam will not cover national grid related failure claims

JOHANNESBURG - South Africa's largest short-term insurance group Santam has reiterated it will not cover claims related to failure of the power grid.

Santam says, however, that it is still paying power surge claims related to blackouts or load-shedding.

The insurer paid a record R30 billion worth of claims last year - mostly on weather related cover.

CEO Tavaziva Madzinga says should clients' appliances suffer a power surge outside of a national grid failure, Santam will still offer cover.

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