What is general insurance?
Life is full of risks. Unexpected events can set people back for years – to the extent that it is almost impossible to recover.
Catastrophe events such as large-scale fires, floods and earthquakes can financially ruin businesses, families or individuals. However, smaller events can also be harmful. Recurring natural disasters like hail storms continually damage critical public infrastructure, housing and the means of production. Individuals and businesses are vulnerable to theft, car accidents, workplace mishaps and a host of other risks.
Many of these risk events have a systemic impact beyond the primary incident, thereby affecting national and local governments, small businesses and vulnerable communities.
The general insurance value creation model
Transformation is a crucial outcome of Santam’s business activities
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