In the past few years, South Africa has been hit by a number of extreme weather events, and insurers have had to adjust their prices. (Darren Stewart/Gallo Images).
Several of South Africa’s insurers are pricing in the impact of extreme weather events into premiums, one of which said it raised premiums up to 15% in flood-prone KwaZulu-Natal in the past few years.
The country has seen a variety of extreme weather events in the past few years. This includes floods, wildfires, and damaging storms. In recent weeks, thunderstorms and tornadoes hit KwaZulu-Natal – which the weather service later confirmed that one measured 3 on the Enhanced Fujita scale. This means it was among the stronger and more destructive storms the country has ever seen, wreaking “severe damage”.
The Eastern Cape also suffered the storm, which resulted in heavy rainfall in floods that killed at least 10 people and also caused damage to public infrastructure like schools, roads and healthcare facilities, homes and vehicles.
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Lameez Omarjee
www.news24.com
