Magazine date:
May 2004 According to ASAC chairman, Association des Sociétés d'Assurance, (Insurance companies' Association), Cameroon could become the insurance sector leader in the franc zone. To achieve that objective, the authorities must:
- Provide the sector with fiscal incentives
- Put an end to fraud and corrupt practices in motor insurance.(a 15% growth in the number of cars in traffic while the turnover is dwindling down by 4% for an unchanged rate)
- Regulate and supervise intermediaries and brokers' sector.
In addition, the government must issue securities in favour of the insurance companies that have lost part of their assets during the liquidation of the Companie Nationale de Réassurance (CNA), (the National Reinsurance Company).