Security

Innovations in the insurance code

The Regulation Authority and Insurance Control (ARCA) has organized a three day workshop from 15 to 17 October 2014 on popularizing the new insurance code in Burundi.-By Diane Uwimana

Venant Kamana hopes that once the code will be popularized, risks of loosing belongings will be reduced ©Iwacu

Venant Kamana hopes that once the code will be popularized, risks of loosing belongings will be reduced ©Iwacu

“It is no longer only car owners who insure their cars. Six other products are added ”, says Venant Kamana, the Secretary General of ARCA. The insurance of goods, civil professional responsibility of doctors and lawyers, fire and explosion insurance for commercial and administrative buildings and insurance of building risks are included in the new insurance code proclaimed on 7th January 2014.

Venant Kamana mentions that once the code will be popularized, the financial risks in losing belongings is reduced. “It would be better to begin at the time of promulgation, but we lacked funding. The World Bank and the Ministry of Finance support us now and we hope to achieve our objectives”, Kamana points out.
During the three days, ARCA will explain the contents of the new insurance code to participants such as insurance companies.

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