Share post:



The Pensions and Insurance Authority (PIA) has put in place a taskforce which will ensure that marine insurance is properly handled once it is passed as a law.

This is according to the PIA deputy registrar Titus Nkwale.

Mr Nkwale said the authority would engage relevant authorities on how marine insurance would be handled once introduced in Zambia.

He was speaking in an interview.

“A taskforce and members are in place to start discussion with relevant stakeholders, if the insurance law is enacted this year then we will start this year.

“So first of all it has to be made mandatory then we can ensure that it is being consumed where it is supposed to be, in this case the desired market is Zambia There then should be an institutional arrangements preferably it can also be in the law for monitoring and enforcement,” said Mr Nkwale.

Mr Nkwale emphasised that marine insurance was supposed to happen from a perspective law.

He further said “the first is to amend the actual insurance act, yes one can argue that section 120 of the insurance is currently sufficient to domesticate the marine insurance but it has got one weakness, it does not prescribe marine insurance as mandatory.

“So if there is a breach one can say I have not bought any insurance anyway so you cannot punish someone for buying marine insurance elsewhere unless there is proof.”

Previous article
Next article


Please enter your comment!
Please enter your name here


Related articles

Kenyan teachers held over video of pupils simulating sex

Kenyan police have arrested six teachers from a primary school in the western part of the country over a video shared widely showing pupils simulating sexual acts as the teachers watch.

Zambians face fines for using phone while crossing roads

The authorities in Zambia have passed a law that prohibits pedestrians from crossing the road while wearing headsets or talking on a mobile phone.

Kenya opposition leader faces lawsuit over secret video claim

Kenya's former electoral commission boss has threatened to take legal action against the opposition leader after the politician alleged that the poll team, including the chairman, visited his home during last year's closely fought election, local media report.

Fuel price rise in Cameroon as subsidies scrapped

Fuel prices in Cameroon will rise by about 15% from Wednesday after the government agreed to pressure from the International Monetary Fund (IMF) to cut fuel subsidies.