Regulatory Alerts2004-12-06
Added · Updated
Directive No. SIB/28/2004 – Emergency Travel Health Insurance
Licensed Ethiopian insurance companies are permitted to develop and issue their own Emergency Travel Health Insurance policies or act as agents for Schengen State insurers to sell such policies to Ethiopian nationals traveling for short stays. Companies acting as agents must maintain documentation regarding the Schengen insurer's licensing and the agency agreement for inspection by the National Bank of Ethiopia. Insurers issuing their own policies must submit policy forms, premium rates, and reinsurance treaties to the National Bank of Ethiopia. No other persons or organizations, including insurance intermediaries, are permitted to act as agents for Schengen State insurers to sell these policies.