Prasa (SA Rail) – no insurance cover – almost no rail cars after arson

Cash-strapped Prasa has been operating without risk insurance cover on R3bn worth of its assets for the past six months, exposing commuters to another risk calamity while executives cruise in luxurious vehicles. The operational meltdown decimating the Passenger Rail Agency of South Africa (Prasa) continues unabated, with at least one major risk insurance house cancelling its cover to the embattled state-owned enterprise (SOE) as crime and arson take its toll on Prasa’s assets across the country. Among the assets running without insurance cover for the past six months are two…

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