SASRIA

AcronymDefinition
SASRIASouth African Special Risks Insurance Association
References in periodicals archive ?
Other countries that have special mechanisms to deal with terrorism risks include South Africa (where SASRIA, the South African Special Risk Insurance Association, created in 1979, insures against political risks) and Israel (where the Property Tax and Compensation Fund, financed by a nation-wide property tax, covers property and casualty insurance claims from terrorism-related losses).
This involved the 15 companies effectively capitalizing a pool called the South African Strikes and Riots Insurance Association (SASRIA); the original capitalization was 5 million rand spread proportionately according to the size of the 15 companies, which was subsequently raised to 10 million rand.
Soon after the pool was established, the reinsurance market became involved in excess of loss protection, and SASRIA is now very significantly funded at 4 billion rand and growing.