MPs call for protection of insurance policy holders

During  the debate on the Insurance Industry Bill on Tuesday, the MP for Palapye and Assistant Minister of Education and Skills Development, Moiseraela Goya said there is need for insurance companies to educate people about policies they signed up for.  “Policies should not be made secret to people and how an individual would benefit. The reason why people are losing hope on insurances is because certain things are not usually clear. Again it is important that the business of insurance should be dealt with through insurance companies only,” he said.

He also implored the banks to refrain from engaging in insurance business because it puts them in competing with insurance companies. He said when banks sell insurance, they force their clients to spend a lot of money on insurance policies from both banks and insurance companies.