Hargeisa October 2022
In October 2022, the Parliament enacted the Insurance Companies Law, marking a significant advancement in the regulation and oversight of the insurance sector. This comprehensive legislation aims to enhance consumer protection, ensure financial stability, and promote transparency within the industry. By establishing robust regulatory frameworks, the new law empowers the National Insurance Authority to effectively supervise insurance providers, fostering a more competitive and trustworthy marketplace for consumers. The enactment of this law is a pivotal step towards strengthening the insurance landscape, safeguarding policyholders, and promoting confidence in the financial system.
