Ipec moves to build insurance confidence

By newsday

THE Insurance and Pensions Commission (Ipec) is revamping corporate governance practices in the industry to ensure proper claims settlement and benefit payments, key ingredients in building confidence in the sector.

BY MTHANDAZO NYONI

Ipec commissioner of insurance, pension and provident funds, Tendai Karonga, told NewsDay that they were in the process of revamping corporate governance practices in the sector following abuse by some companies.

“The key corporate governance issues include the need to improve on record-keeping, reduction of administration expenses, enhanced disclosure and improvements in internal controls, among others,” Karonga said.

The industry is facing a plethora of challenges such as low public confidence …read more

Read the article from : Newsday