Insurance of Politically Motivated Risks Including Terrorism: The Case of South Africa

Albert Mushai and Agata MacGregor

Economic History of Developing Regions, 2016, vol. 31, issue 2-3, 277-302

Abstract: By world standards, South Africa’s experience with insurance of politically motivated risks, including terrorism, qualifies it as a leader in the area. In the late 1970s, the volatile political climate of the apartheid era forced the private insurance market to establish the South African Special Risks Insurance Association (Sasria), backed by the government, to insure damage caused by politically motivated acts, including terrorism. Since then, Sasria has developed into a key strategic institution. Yet academic literature on insurance of politically-motivated risks, riot, strike and terrorism in South Africa is sparse, despite its increasing significance in a world where terrorism is on the increase. This article attempts to fill this literature gap by firstly tracing the developments leading to the formation of Sasria, then examining the evolution of Sasria to where it is today.

Date: 2016
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DOI: 10.1080/20780389.2016.1180957

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