Govt tightens screws on insurers

Thursday, April 09, 2015

The government has moved another step to tighten up operations of insurance companies, giving the Non Bank Financial Institutions Regulatory Authority (NBFIRA) more powers to preside over the industry.

Presenting the Insurance Industry Bill before parliament this week, the Minister of Finance and Development Planning Kenneth Matambo said that the bill will protect insurance policy holders, insurance agents, regulatory issues and national interests.

He said that the Bill, which has 10 parts, would also insure that insurance companies are prepared for risks to cover shareholders’s dividends, and there will be strict supervision and monitoring by NBFIRA. Penalties will be put in place for those who contravene the law.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

(L-R). Kagiso Molatlhwa. Olebile Machete and Morena Monganja addressing the media on constitutional amendment PIC: KENNEDY RAMOKONE

Civil Society fights 'flawed' constitutional amendment

Innocent Selatlhwa | 1d ago

Civil Society calls for Constitution review governing Act

Innocent Selatlhwa | 1d ago

IEC rejects 2,513 registrations

Innocent Selatlhwa | 1d ago

Motshegwa prevails against detractors

Goitsemodimo Kaelo | 1d ago

Serowe woman ingests acid, attempts suicide

Pini Bothoko | 1d ago

Serowe man 'loses' P1m in crypto trading

Pini Bothoko | 1d ago

MultiChoice appoints Johnson Otlaadisa to the role of Production Supervisor for Mzansi Bioskop Local Film Project

Staff Writer | 1d ago

Grieving individuals urged to seek support

Boikanyo Mathonsi | 1d ago

Inspect the voters' roll!

The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...

The Monitor Editor | 23 April 2024

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Explore

More

Govt tightens screws on insurers

The government has moved another step to tighten up operations of insurance companies, giving the Non Bank Financial Institutions Regulatory Authority (NBFIRA) more powers to preside over the industry.