Insurers to pay for Z$ losses


Insurers to pay for Z$ losses

Insurance policy-holders and pensioners should be compensated for loss of value suffered as a result of hyperinflation in 2007-8 and the country’s adoption of a multi-currency system in 2009, a commission set up to investigate the effect of the change-over has recommended.

Insurers to pay for Z$ losses

Also, the National Social Security Authority (NSSA) and other corporates should stop paying a flat pension benefit to retired contributors regardless of their salary level or years of participation in the fund, while funeral policy-holders should be compensated for alteration of benefits or cancellation of policies following dollarisation.

Read full story in today’s paper.



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