Regulatory Alerts2003-09-16
Added
Circular Namibianisation PI-ST-2003
The Registrar extends the compliance deadline for Namibianization directives to September 30, 2003, for all registered short and long-term insurance companies. Insurers must appoint a Namibian Citizen as Principal Officer, ensure their Principal Office is a fully operational separate entity, and process and pay policy claims for Namibian policy holders within Namibia. Failure to comply by the new deadline will result in daily penalties starting October 1, 2003.
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