Welcome to the road accident fund
Road transportation is a critical element supporting and directly contributing to growth in any economy. Road accidents are, unfortunately, a negative consequence of this economic growth, affecting both economically active members of our society and other citizens. Free markets, and in particular the private sector, do not fully address the impact of road accidents on society and the economy. The Road Accident Fund (RAF) provides a social security safety net to the country and economy by making available compulsory social insurance cover to all users of South African roads.
The RAF provides compulsory cover to all users of South African roads, citizens and foreigners, against injuries sustained or death arising from accidents involving motor vehicles within the borders of South Africa. This cover is in the form of indemnity insurance to persons who cause the accident, as well as personal injury and death insurance to victims of motor vehicle accidents and their families.
|During the course of last week, the RAF bank account was attached by a few who sought to extract immediate payment at the expense of many claimants and their service providers.|
Further to the communications on 27 January and 2 February, I am however now able to report that the attachments have been lifted and we are able to resume payments. While the number of firms and the costs involved varied during the course of the attachments, we now have a consolidated view of what transpired and the further activities that exacerbated the complete cessation of payments by the RAF. Read More...