Home Regulation

Regulation

IPEC revises pension funds investment limits

Martin Kadzere: THE Insurance and Pensions Commissions (IPEC) has revised investments thresholds that pension funds and life companies can invest in public­listed companies and financial institutions. According to the new guidelines, not more than 15 percent...

Zim to formalise micro­insurance firms

ZIMBABWE is working on a framework to regulate and formalise operations of micro­insurance firms targeting low income earners, the Insurance and Pensions Commission said. Micro­insurance has been identified as a critical instrument for delivering...

IPEC launches blitz on unregistered insurance agents

THE Insurance and Pensions Commission has launched a blitz on unregistered insurance agents and fake insurance cover notes, a senior IPEC official said. The operation is being conducted by IPEC in conjunction with the Zimbabwe...

IPEC fines non-compliant companies

Harare Bureau: THE Commissioner of Insurance and Pensions has started penalising pension funds and insurance companies that failed to comply with prescribed asset ratio requirements as at December 31, 2015. In July 2014, the Ministry...

Ipec de-registers two insurance firms, broker

TWO insurance firms and a broker have been de-registered, the former for failing to meet the minimum capital requirement, and the latter for “unethical business practice”.The insurance fi‬rms -New Reinsurance Company of Harare (Pvt)...

IPEC fights insurance fraud

Golden Sibanda: THE Insurance and Pension Commission is working with the insurance firms to put tamper proof features on cover notes to deter fraud. This comes as a significant number of people have lost money and...

El Nino eats into $6m agric insurance

Enacy Mapakame: THE prevailing weather conditions that are being induced by the El Nino will likely eat into the earnings of local crop insurers. Local crop insurance business generate an average of $6 million from the...

Cimas to lose operating licence

Livingstone Marufu GOVERNMENT has given Cimas Medical Aid Society a seven-day ultimatum to honour all outstanding claims or lose its licence. Cimas has more than 30 000 members, and has allegedly been trying to direct them...

Nervy times at Fidelity Life

Enacy Mapakame and Livingstone Marufu A FORENSIC audit of Fidelity Life Assurance’s financial statements that started in April has been extended to August amid indications the auditors — KPMG Accountants — are keen to investigate...

Legal Matters: Insurance companies are not the devil

Insurance as a business is largely divided into two broad categories: short-term and long-term. The first is technically called indemnity or property insurance, while the second is non-indemnity or life insurance. Short-term is so-called...
Bitnami