Only 9% of Zimbabweans are on Health Insurance and Medical Aid covers: ICZ
By Insurance24
HARARE, Only 9% out of a total population estimated at around 14 mln Zimbabweans, which translate to only about 1.3 mln are insured on health insurance and Medical aid covers with membership mainly coming from formal sector.
Giving an overview of the country’s Health Insurance Industry at a Zimselector/Ipec
Zim rallies ECASSA to establish social security schemes for women
Victoria Falls – (New Ziana) – The Zimbabwean government has said African social security associations must come up with effective schemes and strategies to address the needs of women, who account for the bulk of employees on the continent’s informal sector.
Addressing delegates attending the East and Central African
Over 600 pension funds financially unsound, risk closure
By Insurance24
Vic Falls-Insurance And Pension Commission (Ipec) says it has identified over 600 financially unsound pension funds that it might need to close down to avoid continuous erosion of values.
There has been continuous shrinkage of assets emanating from high administration expenses, increasing liabilities not matching assets,
Pension Funds should improve on disclosures to gain more trust: Govt
By Insurance24
Vic Falls..Government wants Pension funds to improve their disclosure of information to both trustees and members to reduce complaints against their activities.
Speaking at the 43 annual congress of the Zimbabwe Association of Pension Funds (ZAPF) Vic Falls, Minister, Local Government, Public Works and National Housing,
Insurance Bill still awaits promulgation into law….Insurer Old Mutual led risers on Thursday’s session
By Insurance24
HARARE, Insurance and Pensions Commission says the proposed Insurance Bill is still awaiting promulgation into law upon which the Commission will commence enforcing some of the new regulations.
The proposed Insurance Bill is set to harmonize the Insurance and Pensions Commission
Agriculture insurance slowly re-evolving…Insurers should do more on transparency
By Insurance24
HARARE, Agriculture is as risky as any business. The sector is prone to losses from natural disasters, thus as a result, farmers and insurance companies should co-exist in order to minimize the risk of losses.
In Zimbabwe, uptake of insurance services by farmer is generally low as farmers largely view
Is Insurance industry doing enough to curb fraudulent claims? as Zimbabwe Insurance Crimes Bureau comes into effect.
By Insurance24
HARARE, Fraudulent insurance claims are not peculiar to Zimbabwe alone, but has become a Global phenomenon. But is the Insurance Industry doing enough to curtail this?. In Zimbabwe alone, fraud claims constitute estimated 30 to 40 percent of claims paid annually.
These
Insurance firm, Nicoz Diamond Insurance Limited, (NDIL) says it has received a notification from First Mutual Holdings Limited (FMHL) of its intention to make a mandatory offer to buy out the remaining minorities by scheme of arrangement.
Last year, FMHL received regulatory approval for the acquisition of the entire issued share capital of NicozDiamond Insurance, and subsequently the National
Over 2 million covered by micro-insurance products: IPEC
By Insurance24
HARARE, Over 2 mln Zimbabweans are subscribed to various micro-insurance products being offered largely as a result of their affordability. Several life assurers and health insurers have over the past 2 years developed micro-insurance products that range from as little as 50 cents.
Nhau Chivingira of the Insurance and Pensions
Capital levels should be directly related to level of risk: ICZ
By Insurance24
HARARE, Insurance industry is expecting an improved outcome in 2018 on the back of the new political and economic order but says a risk based approach regarding regulatory capital should be in place.
The Insurance sector had been affected by economic hardships which have affected payments of claims while on the other hand