IPEC descends on errant insurance brokers

Top Stories Zimbabwe

ZTN Correspondent

Four insurance brokers in Zimbabwe face deregistration for failing to comply with Insurance and Pensions Commission (IPEC) requirements.

The firms are Ambassador Insurance Brokers, Auto and General Insurance Brokers, Hostcare Insurance Brokers and Revival Insurance Brokers.

IPEC said on Friday that their offences range from failure to comply with standard requirements; non-submission of quarterly and annual returns; non-payment of annual fees, quarterly levies and penalties.

“The Commission has, to no avail, tried to contact the institutions at their last known business addresses which have been vacated without notification to the Commission.”  

The Commission said the firms can seek recourse in terms of the Insurance Act.