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The Insurance Bill, 2021
Submitted by paul on Tue, 2021-04-20 16:46
a. provide for the regulation of the insurance industry;
b. provide for the supervision of insurers, reinsurers and intermediaries;
c. provide for the financial regulation of insurers, reinsurers and intermediaries;
d. provide for the regulation and supervision of microinsurance businesses;
e. provide for the management and shareholding of insurers, reinsurers and intermediaries;
f. provide for the auditing and corporate responsibility of insurers, reinsurers and insurance brokers;
g. continue the existence of the Policyholders’ Protection Committee and the Insurance Fidelity Fund;
h. provide for the establishment of the National Reinsurance Company;
i. give effect to the Agreement establishing the African Reinsurance Corporation and the j Agreement establishing the ZEP-RE (Preferential Trade Area Reinsurance Company);
j.repeal and replace the Insurance Act, 1997; and
k. provide for matters connected with, or incidental to, the foregoing.
Bill Number:
N.A.B. No 36 of 2021