The Chronicle
Sikhulekelani Moyo, Business Reporter
THE Insurance and Pensioners Commission (IPEC) has warned members of the public against buying insurance policies from deVere Zimbabwe saying the entity is not registered.
In a statement, IPEC said the commission has received complaints from some consumers who allegedly bought insurance policies through deVere Zimbabwe and have been short-changed.
“IPEC warns the public against buying insurance policies from deVere Zimbabwe, as it is not authorised in terms of the Insurance Act, to render and insurance services in Zimbabwe,” reads the statement.
“Section 7 (1) of the Insurance Act, prohibits unregistered entities from carrying out insurance business in the country.”
The insurance watchdog has since set in motion measures to bring the entity to book in line with its mandate of protecting the interest of policy holders and pension schemes members.
The commission has advised insurance clients to deal with registered entities and check with IPEC for entities that are authorised to render insurance services.
Article Source: The Chronicle