Ethiopian Insurers to Collect Outstanding Premiums by Dec
Ethiopian insurance companies have until the 31st of December 2013 to collect outstanding premiums or set aside a 100 percent provision for premium debts according to a draft directive distributed by the National Bank.
The National Bank sent out the directive known as “Information Exchange Scheme on Outstanding Premium”to insurance companies seeking their feedback by the end of this week it was learned.
The directive intends to enable insurance companies to share creditor information so that clients who owe an insurance company credit will be denied coverage elsewhere with the exception of third party vehicular insurance it was learned. Add a comment Add a comment