Provide a detailed discussion on the South African Special Risks Insurance Association (Sasria). To aid in structuring your discussion, make use of the following three sub- headings: i) The historical development and formation of Sasria. [15 marks] ii) The unique business model of Sasria. [15 marks] iii) The scope of cover provided by Sasria and how it has changed from its formation until today. [10 marks] Mr X is a prominent politician; he is also facing severe financial difficulties connected with his business activities. He received a number of death threats. These may be related to his business activities and/or his political involvement. He is insured with a conventional assets insurer as well as with Sasria. A number of attempts have been made upon his life and he has hired a security guard to protect his property. When he renewed his policies, he did not disclose neither his financial problems nor the death threats to either insurer. During the period of insurance, his home is destroyed by a petrol bomb attack. He submits a claim to Sasria and the conventional insurer. Provide a detailed response on how his conventional insurer and Sasria will respond to his claim. [10 marks]