The Insurance and Pensions Commission (IPEC)’s attention has been drawn to a flier, under the banner Lobola Assurance, that is circulating on social media platforms.
We wish to advise the public that we have not licensed such an entity nor the purported product.
Section 7 (1) of the Insurance Act, prohibits unregistered entities from carrying out insurance business.
We would also like to remind insurance consumers to only deal with registered entities.
Consumers can check with the Insurance and Pensions Commission, entities that are authorised to render insurance services.
The list of registered insurance entities can also be found on the IPEC website: www.ipec.co.zw.
IPEC is a statutory body established in terms of the Insurance and Pensions Commission Act [Chapter 24:21] to regulate the insurance and pensions industry in Zimbabwe.