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In order to adapt to the current state of the insurance market, the Insurance Mediation and Brokerage Law has been published. More than two decades have passed since the approval of the first law regulating these matters. As a result, it has been necessary to redefine the..
Ghana’s insurance industry is regulated under the Insurance Act, 2021 (Act 1061). The National Insurance Commission is responsible for the effective supervision and regulation of the insurance industry in Ghana. The Insurance Act defines a foreign insurer as a person who ..
On 23 December 2022, the long-awaited Insurance Act, 2021 (new Act) came into force following the issuance of Commencement Order No. 83 of 2022 by the Minister of Finance and National Planning, Dr Situmbeko Musokotwane.
The Supreme Court of Appeal (“the SCA” hereinafter) recently delivered a judgement in a matter involving Zurich Insurance Company South Africa LTD (“the insurer”) and the Gauteng Provincial Government (“the insured”), bringing to an end litigation that commenced early 201..
In what is a rare win for an insurer in recent times, the court’s judgment in Musa v King Price Insurance Co on 9 May 2022 highlights the importance of insureds abiding by their claims cooperation obligations. The court's ..
The long-awaited conduct standard, "Requirements relating to third party cell captive insurance business" (2022 Conduct Standard), together with the Statement of Need and Intended Operation as well as the Consultation Report, was tabled in the National Assembly and Nation..
The Financial Sector Conduct Authority (“FSCA”) has announced certain proposed amendments to the Policyholder Protection Rules (“PPRs”) for both life and non-life insurance.
Parliament recently passed the Insurance Act, 2021 (Act 1061) to replace the Insurance Act, 2006 (Act 724) and to provide for the regulation and supervision of the insurance market. Act 1061 creates three main licence categories under which ..
