KEVIN MAYHEW SOUTH AFRICA continues to be the powerhouse of Africa. There is continued growth in trade to east and west Africa with Malawi and the Democratic Republic of Congo holding their own as well. There has been a significant increase in project insurance and this has created some problems for underwriters as cargo often has to be covered to more inaccessible places than previously. “There has been a call for cover for these items which are of significant value and which have to be transported by sea and road with all the attendant risks,” says Prestmarine’s marine marketing manager, Susan Bester. On overall infrastructure development in Africa, Bester says the company remains optimistic about improvements to ports and roads. However, the problem of claims in more inaccessible places remains a concern and headache for insurers as there is a lack of repair facilities, documentation and co-operation from the insured’s clients on the receiving end. These factors require careful rating by insurers, she said.
