News / National
Zimra's motor insurance illegal
30 Jun 2015 at 07:57hrs | Views
ConCourt yesterday slammed Zimra for allegedly issuing motor vehicle insurance policies and collecting insurance premiums without proper license.
This came out in the judgement delivered by a judge of appeal, Justice Bharat Patel, in a matter which the Tour Operators Business Association of Zimbabwe (Tobaz) had approached the court accusing Zimra of creating a monopoly in the issuance of insurance cover.
However, the court dismissed Tobaz's application accusing the association of "operating criminally and acting in violation of an Act of Parliament as opposed to purely subordinate legislation".
Justice Patel said Insurance Regulations 1989 (Statutory Instrument 49 of 1989), framed in terms of Section 89 of the Act, was put in place to regulate the conduct of virtually every class of insurance business and activity.
He said this included insurance agents and Zimra had in its operations violated the law.
The court also took a swipe at the Motor Insurance Pool (MIP) for permitting Zimra to represent its members.
This came out in the judgement delivered by a judge of appeal, Justice Bharat Patel, in a matter which the Tour Operators Business Association of Zimbabwe (Tobaz) had approached the court accusing Zimra of creating a monopoly in the issuance of insurance cover.
However, the court dismissed Tobaz's application accusing the association of "operating criminally and acting in violation of an Act of Parliament as opposed to purely subordinate legislation".
Justice Patel said Insurance Regulations 1989 (Statutory Instrument 49 of 1989), framed in terms of Section 89 of the Act, was put in place to regulate the conduct of virtually every class of insurance business and activity.
He said this included insurance agents and Zimra had in its operations violated the law.
The court also took a swipe at the Motor Insurance Pool (MIP) for permitting Zimra to represent its members.
Source - newsday
