By BUUMBA CHIMBULUTHE enactment of the Insurance Bill will encourage local brokers to participate in the running of financial affairs in the industry, which will boost foreign income, says Insurance Brokers Association of Zambia (IBAZ).IBAZ president, Emmanuel Kwenda, stressed that one of the biggest challenges brokers were facing was that some companies and some multinational companies would insist that they wanted to deal with a particular international broker.Mr Kwenda said the enactment of the Insurance Bill would therefore allow local brokers to fully participate in the industry.This, he said, would allow local brokers to take up 51 percent of the cover with foreign brokers having 49 percent unlike the current situation where an international broker would take up 100 percent of the cover without the involvement of the local firms.Mr Kwenda was speaking in an interview at the just ended Insurance Conference 2020 held under the theme “Seizing opportunities for growth amidst challenging times.”“As IBAZ […]
LOCAL INSURANCE BROKERS SET FOR BOOST
