Magazine date:
Jul 2014 More than 1000 insurance agents have not yet submitted their licence requests (to operate in 2015) to the regulatory authority (IRA), exposing themselves to the doubling of initial subscription fees (22 USD instead of 11).
According to an insurance agent, the problem could be coming from insurance companies, which might be late to deliver clearance certificate to agents, the said certificate being essential for the acquisition of the licence.Washington Ndegea, chairman of Bima Intermediaries Association, confirms these facts by pointing out small companies, accustomed to rely on non regeistered agents.
On the other hand, insurance and reinsurance companies are all on time.