Regulatory Alerts2023-04-05
Added · Updated
Medical Aid Funds Standards
The Namibia Financial Institutions Supervisory Authority issued these standards to govern the operational rules and financial viability of all registered medical aid funds under the Financial Institutions and Markets Act, 2021. The regulations require fund rules to explicitly define membership eligibility, benefit structures, waiting periods, and board governance while adhering to strict formatting and certification protocols. All funds must align their existing rules within twelve months of publication and maintain ongoing financial soundness through independent valuator reports that verify asset-liability adequacy, contribution sufficiency, and risk management.
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