In the fight against Coronavirus, Zambia’s insurance regulator urges local insurers to implement the following new measures to confront the coronavirus crisis:
- Promptly settle all claims including those related to COVID-19.
- Set e-platforms for insurance purchase, payment of premiums and claims report.
- Submit a report to the regulator before 15 May 2020 addressing COVID-19 impacts on the company.
- Set up emergency measures to extend the premiums payment period.
- Sensitize policyholders to terms and exclusions of insurance contracts.
- Seek regulator’s approval in the event of suspension or withdrawal of insurance products.
- Set up supportive measures for insurance intermediaries.