16 February 2023 Gareth Stokes
After 200-plus days of loadshedding in 2022 and Stage 2 or higher each day this year, South Africans are gatvol. Unfortunately, the ongoing threat to the national power grid has caught the attention of the country’s short-term insurers too, forcing them to start the New Year by informing brokers and policyholders of yet another general cover exclusion. Those familiar with the workings of the insurance industry will not be surprised to learn that insurers and reinsurers consider a national electricity grid failure to be uninsurable.