GCR Ratings has published a review of the Zambia Insurance industry, outlining the expected impact of the the New Insurance Act of 2021 which came into effect on the 20th of May 2021 on the Zambian Insurance Sector. GCR believes that the New Act will have a positive impact on the Zambian Insurance Sector. Among other interventions, we expect the Act to help in reducing growth in delinquent accounts, instil discipline in underwriting and other best practices in insurance, including rationalisation of commission structures; and optimisation of reinsurance utilisation.
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