The CIMA Code (Inter African conference of insurance markets) has been amended. New provisions regarding microinsurance have been introduced in the legislation. These new measures, in force since May 1, 2012, are designed to coach microinsurance activity within the member States. It is with thirty articles (articles 700 to 735) that the terms for the provision of microinsurance license have been defined. Are authorized to develop this business, accredited microinsurance companies and non-life or life insurance companies having obtained CIMA agreement for the marketing of microinsurance products. Other general provisions pertaining to the contract, accounting principles applicable to microinsurance entities and to intermediaries are among the measures adopted.
