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Demand for riot risk insurance rises amid spike in violent protests

South Africa riots

A spike in violent protests in recent years, accompanied by looting and property damage, has sparked a rise in demand for riot risk insurance in South Africa, The Citizen reports. Insurer South African Special Risk Insurance Association SOC Ltd.'s gross written insurance premiums increased 8.8% year-over-year to 2.1 billion South African rand ($138 million) in the fiscal year ended March 31, from ZAR 1.9 billion in the previous year.

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