{"id":1054,"date":"2017-03-28T08:35:10","date_gmt":"2017-03-28T06:35:10","guid":{"rendered":"https:\/\/www.namfisa.com.na\/educates\/?post_type=right_responsibility&p=1054"},"modified":"2025-07-20T20:18:49","modified_gmt":"2025-07-20T18:18:49","slug":"know-your-right-and-responsibilities-when-it-comes-to-insurance","status":"publish","type":"post","link":"https:\/\/www.namfisa.com.na\/educates\/know-your-right-and-responsibilities-when-it-comes-to-insurance\/","title":{"rendered":"Know Your Right and Responsibilities When It Comes To Insurance"},"content":{"rendered":"\t\t
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Objectives of Short-Term Insurance Regulation<\/h3><\/span><\/div>
\u2022 To ensure that short-term insurance business in Namibia is carried out in accordance with the provisions of the Act;

\n\n\u2022 To ensure that short-term insurance business in Namibia is efficiently administered, controlled and regulated;

\n\n\u2022 To ensure that every registered insurer, reinsurer, insurance agent, insurance broker, reinsurance broker and Lloyd\u2019s intermediary and the Lloyd\u2019s representative at all times maintain a sound financial position with regard to any short-term insurance business carried out in terms of the Act;

\n\n\u2022 To exercise supervision, in terms of the NAMFISA Act or any other law, over the business of financial institutions and over financial services; and

\n\n\u2022 To advise the Minister on matters related to financial institutions and financial services, whether of its own accord or at the request of the Minister.

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Sources and Regulatory Framework Used<\/h3><\/span><\/div>
\u2022 The short-term insurance act (no. 4 of 1998)

\n\n\u2022 The regulations to the short-term insurance act (no. 4 of 1998)

\n\n\u2022 The NAMFISA act (no. 3 of 2001)

\n\n\u2022 Inspection of financial institutions act (no. 4 of 1998)

\n\n\u2022 Documents provided by the financial services board of South Africa

\n\n\u2022 Insurance Bureau of Canada: Code of consumer rights and responsibilities

\n\n\u2022 Draft consumer bill of rights supplied by an IMF-funded consultant in Canada

\n\n
\u201cA big part of
financial freedom is
having your heart and mind free from worry about the what-ifs of life.\u201d
\u2013 Suze Orman<\/blockquote><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Objectives of Short-Term Insurance Regulation \u2022 To ensure that short-term insurance business in Namibia is carried out in accordance with the provisions of the Act; \u2022 To ensure that short-term<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":[],"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueState":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":"","_VenueShowMap":false,"_VenueShowMapLink":false,"footnotes":""},"categories":[425,434],"tags":[],"class_list":["post-1054","post","type-post","status-publish","format-standard","hentry","category-rights-and-responsibilities","category-short-term-insuarence"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts\/1054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/comments?post=1054"}],"version-history":[{"count":7,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts\/1054\/revisions"}],"predecessor-version":[{"id":35877,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts\/1054\/revisions\/35877"}],"wp:attachment":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/media?parent=1054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/categories?post=1054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/tags?post=1054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}