Deposit Protection Corporation increases cover level

Deposit Protection Corporation increases cover level

Staff reporter

HARARE, Pursuant to the provisions of section 41(1) of the Deposit Protection Corporation Act [Chapter 24:29], the public is hereby advised that effective 1 January 2020, the deposit protection cover level has been increased from ZWL1,000 (One Thousand Zimbabwean Dollars) to a maximum of ZWL10,000 (Ten Thousand Zimbabwean Dollars)

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Insurance and Pensions Apex Council pleads to re-dollarisation

Insurance and Pensions Apex Council pleads to re-dollarisation

Staff reporter

HARARE, The Zimbabwe Insurance and Pensions Apex Council (ZIPAC) has pleaded with the Finance minister to allow the sector to re-dollarise in the face of a growing informal sector.

Zipac board chair Tassius Chigariro, yesterday told the industry during the inaugural insurance and pensions industry breakfast meeting which 

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Government commit to reform insurance and pensions sector

Government commit to reform insurance and pensions sector

Staff Writer

FINANCE Minister Mthuli Ncube has said government is seized with legal reforms targeted at the legislation governing insurance and pensions and expect three bills to be sent to parliament by the first half of the year.

In his inaugural meeting with industry players, Ncube said the bills have taken too long at drafting stage.

“I

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Zimbabwe’s insurance industry to suffer low product demand

Zimbabwe’s insurance industry to suffer low product demand

Staff Reporter

ZIMBABWE’s insurance industry is expected to endure low demand for a broad range of insurance lines owing to a tough economic environment, a research report has revealed.

BMI Research, which is part of Fitch Solutions, in a report, Zimbabwe Insurance Report, (summary) said similar to other sectors of the country’s

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FBC Insurance unveils instant third party insurance product Yako

FBC Insurance unveils instant third party insurance product Yako

Staff Reporter

HARARE – FBC Insurance has launched “Yako” an innovative, game changing and fully digital third party insurance service which is poised to change the face of insurance in the country.

The innovative and world-class service, which is now available on the market, allows vehicle owners to purchase a secure and affordable

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IPEC seeks to restore confidence in insurance pensions industry 

IPEC seeks to restore confidence in insurance pensions industry 

Staff Reporter 

HARARE- GRACE Muradzikwa, the IPEC Commissioner, has said one of the commission’s 2020 strategic objective was to restore and build confidence in the insurance and pensions industry following loss of value by consumers. 

She was speaking at a graduation ceremony for the 2019 class of the IPEC Journalism Mentorship

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Life assurers flex muscles

Life assurers flex muscles

 PHIL MHLANGA

HARARE-ZIMBABWE’S funeral assurance companies find themselves in a precarious position following mounting threats from life assurance firms who are now writing 90% of funeral business in the country.

The strong presence of life assurers in the funeral market appear to be stoking the situation, making it difficult for dedicated funeral assurers to stay afloat

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Poor underwriting methods threat to insurers

Poor underwriting methods threat to insurers

Staff writer

Poor underwriting methods have been identified as one of the threats to the survival of insurance companies and have serious hindrance to service delivery.

Delivering her keynote speech at the ongoing workshop hosted by Insurance Council of Zimbabwe (ICZ) and Association of Insurers and Reinsurers of Developing Countries, Elizabeth Wyns-Dogde,(

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Arrear pension benefits rise 100% in Q3, 2019

Arrear pension benefits rise 100% in Q3, 2019

Staff Writer

The Insurance and Pensions Commission (Ipec) says the arrear pension benefits have shot up 100% to $87, 07 million in Q3 2019 from $77,77 million in half year 20 19 while  unclaimed benefit liabilities marginally declined $32,44 million in the comparable period.

In its Q3 pension’s industry report, Ipec said the increase in the arrear pension

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