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Implication of "'water shedding' on business operations and insurance

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George Davis Drought conditions have many devastating effects on communities and the surrounding environment. While the devastating effects of drought are first realised within the agricultural sector, the ripple effect into other sectors and consumers’ personal lives is quickly felt.  This is according to George Davis, Head: Construction and Engineering at Risk Benefit Solutions (RBS), one of South Africa’s largest independent insurance and risk specialists, who says that this has already become evident with the implementation of water restrictions in Gauteng last week.  “Businesses – across all sectors – need to start realising the potential devastation and associated costs that can arise from the current drought conditions, and should be implementing risk management strategies accordingly.”  South African Water Minister, Nomvula Mokonyane1, was recently quoted stating that South Africa is currently experiencing its worst recorded drought since 1992, and as ...