Regulating for Inclusive Insurance Markets in SADC: Review of regulation
This study was commissioned by the SADC Committee of Insurance, Securities and Non- Banking Financial Authorities (CISNA) as part of a larger diagnostic to implement their commitment under the Protocol on Finance and Investment (FIP) to ensure that their regulation is compliant with international standards. The broader study considered levels of compliance with the Insurance Core Principles issued by the International Association of Insurance Supervisors (IAIS). This report focused on levels of compliance with the Application Paper on Regulation and Supervision supporting Inclusive Insurance Markets adopted by the IAIS in October 2012.
This study surveyed the market for inclusive insurance across the SADC region. It covers the demand for microinsurance products, the current supply of such products as well as the manner in which inclusive insurance markets is being regulated in the different SADC Member States.