Regulatory Alerts2026-03-25
SMIB/4/2026 Licensing and Supervision of Microinsurance Agents
The National Bank of Ethiopia issued Directive No. SMIB/4/2026 to establish comprehensive licensing, eligibility, and supervision frameworks for corporate and individual microinsurance agents. The regulation mandates specific training hours, professional indemnity coverage, written agency agreements, and clear ownership or educational criteria to strengthen distribution networks across Ethiopia. It further standardizes license validity, renewal procedures, fee structures, and suspension grounds to ensure consistent intermediary services for low-income policyholders.
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