FINANCE
There doesn ’ t seem to be any light at the end of the tunnel when it comes to loadshedding and many South Africans have taken matters into their own hands when it comes empowering themselves with back-up energy solutions such as solar power , generators and batteries . But how does this shift towards off-grid power for the household affect home insurance policies ?
Trust the experts at Momentum Insure to explain the impact that loadshedding is having on their clients and the insurance industry as a whole . Here to answer our questions are Rudolf Britz , Chief Actuary and Funeka Ngewu , Head of General Claims at Momentum Insure .
1 . Has there been an increase in load sheddingrelated , short-term claims over the last year ?
Our own claims experience shows that claims have increased by 62 % in comparison to last year . Claims due to loadshedding were never of real concern in the bigger scheme of things , but this is starting to change and I believe , in future ,
112 NOV 2022 SA Real Estate Investor Magazine