The Science Of ...

How the Road Accident Fund works to keep road users from financial ruin

The Road Accident Fund (RAF) provides for compulsory insurance cover to all road users in South Africa 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.

The Money Show’s Bruce Whitfield interviewed The Road Accident Fund CEO Dr Eugene Watson for his weekly "The Science Of" feature.

Scroll down to listen to the audio.

We received R22 billion in the last 12 months. But it’s not enough; we’re still bankrupt.

Dr Eugene Watson, RAF

The Fund received claims of R34 billion in the last year.

Dr Eugene Watson, RAF

The aftermath of a crash is poverty. The purpose of the RAF is to protect the wrongdoer – and his or her family - from being sued.

Dr Eugene Watson, RAF

We need to shrink the cake and divide it into more slices.

Dr Eugene Watson, RAF

The RAF only protects income of R220 000 per year, max.

Dr Eugene Watson, RAF

You don’t need a lawyer to approach the RAF directly. We treat all claims in the same way.

Dr Eugene Watson, RAF

We’ve reduced legal costs from about 30% of total expenses to less than 19%.

Dr Eugene Watson, RAF

We need an additional 50 cents per litre of petrol sold to break even.

Dr Eugene Watson, RAF

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
Unsure where you stand on NHI? Experts slug it out in an emotional debate…

Unsure where you stand on NHI? Experts slug it out in an emotional debate…

The Money Show's Bruce Whitfield hosts a debate on NHI between Paul Theron (Vestact) and Russell Rensburg (Wits).

How Stellenbosch became a breeding ground for Afrikaner billionaire businessmen

How Stellenbosch became a breeding ground for Afrikaner billionaire businessmen

The Money Show's Bruce Whitfield interviews Pieter du Toit, author of "The Stellenbosch Mafia: Inside the Billionaires' Club".

This fund (SA SME Fund) worth R1.2 billion wants to help black businesses grow

This fund (SA SME Fund) worth R1.2 billion wants to help black businesses grow

The Money Show’s Bruce Whitfield interviews Ketso Gordhan, CEO at SA SME Fund.

Happy 100th birthday, Landbouweekblad!

Happy 100th birthday, Landbouweekblad!

Bruce Whitfield interviews Chris Burgess, Editor-in-chief at Landbouweekblad, South Africa’s legendary magazine about farming.

The story of Marcel’s 'better than sex' frozen yoghurt

The story of Marcel’s 'better than sex' frozen yoghurt

The Money Show’s Bruce Whitfield interviews Nicole Westwig, Managing Director at Marcel's.

How to quit your job so you can follow your dream

How to quit your job so you can follow your dream

Ever dreamt of just doing it? You may want a few pointers from someone who did. Meet Callan Williamson of Tortilla Modern Mexican.

Popular articles
No life jackets found at Nyati Bush and Riverbreak where Enoch drowned - police

No life jackets found at Nyati Bush and Riverbreak where Enoch drowned - police

North West police spokesperson Colonel Adéle Myburgh says an initial autopsy on Enoch Mpianzi was conducted this morning.

[WATCH] iMfolozi Outrun had surprises on route leaving social media in stitches

[WATCH] iMfolozi Outrun had surprises on route leaving social media in stitches

Khabazela shares tweets and Facebook posts that have gone viral.

Meet Whitey Basson (the retail guru who turned Shoprite into a R127bn behemoth)

Meet Whitey Basson (the retail guru who turned Shoprite into a R127bn behemoth)

The Money Show’s Bruce Whitfield interviews the former CEO of Africa’s largest retailer by far.