The much anticipated and hotly-contested South African General Election has come and gone. With the results in and the elections officially declared free and fair, all eyes now turn to Parliament where the seventh administration will be constituted in the coming days. Unlike previous election cycles since the dawn of South Africa's democracy, the seventh administration will be tasked with forming a national government in circumstances where no single political party has secured a majority of the vote.
Artificial intelligence (AI) and technology have revolutionised many aspects of our lives, and elections are no exception. These tools can enhance the democratic process by improving access to information, voter registration, streamlining vote counting, and facilitating voter engagement, thereby securing greater protection of fundamental civil and political rights.
The imminent general election in South Africa presents increased risks for the non-life insurance industry. As seen in recent years, elevated political tensions can very quickly escalate into civil unrest. This may result in rioting, looting, arson and other violent acts which could force businesses to close, lose revenue or suffer property damage and business interruption. Such businesses will then turn to their insurers for indemnity in terms of their existing insurance policies if they suffer property damage and related financial losses.
The upcoming election in South Africa may pose a risk to the operation of businesses throughout the country. As seen in recent years, elevated political tensions can very quickly escalate into civil unrest. This may result in rioting, looting, arson and other violent acts, which could force businesses to close, lose sales or suffer property damage. Webber Wentzel experts delve into two key areas for businesses, particularly those in the retail sector, to fortify during this period: insurance claims and employment considerations.
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