Johannesburg - At least five insurers will not pay for damages to houses caused by the recent earthquake that hit the country, according to a study released on Wednesday.
“We approached some of the major building insurance providers in SA and found that five out of 17 providers could reject claims relating to the Orkney incident if it was found to be linked to mining activities,” Justmoney editor Angelique Ruzicka said.
The five are three of the four major banks - Standard Bank, Absa and Nedbank - and two specialist insurers, MUA and Addsure.
“Nedbank provides cover for mining-related damage but not if earthquakes result from acid mine drainage (AMD),” she said
“Specialist insurer MUA Insurance Acceptances offers standard earthquake cover, but if it's mining-related it won't uphold the claim,” she said.