St Francis Bay claims now R20 million

By Staff Writer

Mutual & Federal (M&F) announced this week that it has registered claims worth approximately R20 million so far  as a result of the St Francis Bay fire disaster.

 
“Depending on whether more customers contact us, we might see an escalation of claims in the coming days,” said Heidi Dias, head of claims at M&F.

 
“Our Port Elizabeth management team travelled to St Francis Bay yesterday to assess the level of the damage and to assist our clients.  What we have so far ascertained is that one of our customers, the Royal Wharf complex, which consists of 10 units, was badly affected by the fire, and so were two other free standing homes insured with us,” said Dias.

 
Pay out


M&F is awaiting a detailed forensic report concerning the cause of the fire, but it has made an interim payment to one of its customers.  “We had to do this to ensure that the customer gets alternative accommodation and other essentials during this tragic time,” Dias revealed.

 
The short-term insurer said it has seen an influx of claims following the October/November Gauteng hailstorms, the Eastern Cape floods and the Polokwane hailstorms.  

 
The company has urged all its customers to make contact as soon as possible.  “It is during times like these that we want to make good on our promise of protecting what’s important to our customers,” added Dias concludes.
 

Recent Articles

Featured What are the benefits of living in a “Zoom Town”?

With many careers moving online, work-from-home employees have realised they can live in smaller suburbs or towns at a lower cost and enjoy the benefits of a slower lifestyle, while keeping their jobs.

You can’t cash cheques anymore in South Africa – we find out why

In November 2020, the South African Reserve Bank (SARB) announced that cheques would be discontinued from 1 January 2021. But what guided this decision? We have a look at what the pitfalls have been of using cheques, and the consequences of removing them from the payment system.

The perks of investing in student accommodation

With the constant influx of new students entering tertiary institutions, there’s usually a steady demand for student accommodation. As an investor who’s interested in the property market, should you consider student accommodation?

Are you financially secure enough to buy your first home?

When you buy your first home, you need to make sure you’re in a secure financial position so that you can stay afloat in spite of your increased financial responsibility. But are you aware of all the costs you’ll have to carry?

Deals

Rouge Day Spa Tuesday Special

Price: Available on request
When: Tuesdays
Where: Cape Town

Monte Vista Two Nights Special

Price: Available on request
When: Until 31 December 2021
Where: Montagu

Century City Hotel 4 Nights Special

Price: From R1100
When: Until 31 January 2021
Where: Cape Town


Latest Guide

Guide to debt rehabilitation solutions