Region

Jurisdiction

Regulator

2016-07-12

Added 2026-08-24

Circular on the Enforcement of Regulation 6

Registered insurers, reinsurers, agents, and brokers must ensure that commissions do not exceed 12.5 percent for vehicle policies and 20 percent for other short-term insurance policies, with lower caps of 10 percent and 15 percent respectively for insurance agents. Policyholders must not be charged administrative or related costs for zero commissioned policies. Fee schedules must explicitly state the maximum commission percentages payable to brokers or agents by the insurer.

Namibia

Namibia Financial Institutions Supervisory Authority