Insurance industry launches charter

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The Insurance Council of Botswana (ICB) last Thursday unveiled the Insurance Industry Charter, an instrument through which members bind themselves to the highest ethical and professional standards.

The ICB - which represents most of the country's insurance houses, brokers, agents and other stakeholders, launched the charter at the end of a two-day conference held in Gaborone.

The Charter comes as the insurance industry and the Non-Banking Financial Institutions Regulatory Authority (NBFIRA) tighten professional standards in line with international best practice and in recognition of the critical responsibility borne by the sector.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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