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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...

Stinging charge sheet for Fidelity bosses

Darlington Musarurwa and Africa Moyo STINGING allegations of breaches of exchange control regulations, fraud and financial impropriety have become the core of a possible charge sheet against Fidelity Life Assurance (FLA) directors – Mr Simon...

‘Dr Parirenyatwa sleeping on duty’

Following the tiff between doctors and medical aid societies, the Zimbabwe Medical Association has laid the blame on Health and Child Care Minister, Dr David Parirenyatwa. Zima had threatened that with effect from July 1,...

Third party insurance premiums rise 20 pc

Livingstone Marufu THIRD party insurance premiums for motor vehicles have been hiked by 20 percent to $36 per term from $30 last year for light vehicles, while premiums paid by commuter omnibuses have been revised...

LEGAL MATTERS: Motor vehicle insurance and the law

Tichawana Nyahuma and Enard Chiguvu The Sunday Mail The main principle underlying property or indemnity insurance is to put the insured into the position he would have been had the insured thing not been damaged or...

Errant insurance, pension firms in the firing line

THE commission of inquiry appointed by Government last year to look into the potential prejudice suffered by pensioners and policyholders through the conversion of values from the Zimbabwean dollar to the United States dollar...

FAKE INSURANCE POLICIES FLOOD ZIM

Fake motor vehicle insurance policies have flooded the country with millions of dollars being lost to fraudsters, Transport minister Joram Gumbo has said. Gumbo, in a ministerial statement to the National Assembly on Thursday, said...
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