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The Insurance and Pensions Commission (IPEC) and the International Finance Corporation (IFC) have launched the agricultural index-based insurance project whose objective is to provide insurance solutions for smallholder farmers who are vulnerable to climate-related crop losses in Zimbabwe. This follows the signing of a partnership agreement between IPEC…
The day, 28 June is a special day on the calendar of the insurance sector, the world over. It was designated as Insurance Awareness Day, to serve as a reminder to everyone, to review their insurance coverage to ensure that they have the insurance they need and that…
IFC and Zimbabwe’s insurance regulator, the Insurance and Pensions Commission (IPEC), recently announced a partnership to create a market for agricultural insurance products in Zimbabwe to protect smallholder farmers from weather-related crop damage and other shocks. Through the partnership, IFC will assess the risks smallholder farmers face, how…
The Insurance and Pensions Commission joins the rest of the World in commemorating International Insurance Awareness Day, which is observed on 28 June, annually. The day was set aside to serve as a reminder to people to review their insurance coverage to ensure that they are adequately protected.…
The Insurance and Pensions Commission (IPEC) has launched a revamped solvency management system for the insurance industry. Dubbed Zimbabwe Integrated Capital and Risk Programme (ZICARP) Framework, the new system aims to, among other objectives, improve consumer protection and assurance to policyholders and beneficiaries. It also provides incentives to…
Chief executive officers and finance directors who deduct pension contributions but do not remit the same to pension funds will face civil and criminal penalties in their personal capacities if the proposed Pension and Provident Funds is passed into law. Pension contribution arrears is one of the biggest…
Mr Ranson Dube loved his family and always wanted the best for them. He would sacrifice spending time with them during weekends, instead spending most of his time at work to supplement his salary so that he could provide for them. He wanted to send his children to…
A pension fund recently lost 80% of the buildings that it had bought from the sponsoring employer, because it failed to register them in the fund’s name. The sponsoring employer was liquidated and all its assets, including the buildings bought by the pension fund, were counted as still…
Funeral assurance is a special branch of insurance where the benefit from the insurance company is used to meet the costs of the funeral upon the death of the insured. The benefit provided by the funeral assurer comes in the form of a funeral service, a cash benefit…