ICZ reflects on fire related claims

HARARE, Damage to properties by fire is a cause for concern as claims will go up across the whole industry chain, an official has said.

This follows a number of fire incidents recently in Harare and other parts of the country that has resulted in loss of millions of dollars.

Musa Bako, the chairman of the Insurance Council of Zimbabwe (ICZ) in an interview said fires

Funeral Assurers urged to hedge risk in reinsurance.

                   …..As retention ratio averages 99,96%

HARARE, Reinsurance uptake by Funeral assurers remain low as evidenced by average retention ratio of 99, 96%, this according to the latest IPEC report for the June quarter for the industry.

The Regulator said this is despite numerous calls by the Commission for industry