Insurance Act
ZambiaAct of Parliament
This Act has been repealed.It was replaced by Insurance Act, 2021. Read this one for the law as it stood, not as it is now.
The Insurance Act is an Act of the Parliament of Zambia. It contains 89 sections. Read its sections below, or ask Levy any question about the Insurance Act and get an answer grounded in the Act with citations.
Sections of the Insurance Act
- S. 1S hort title
- S. 2A pplication
- S. 3A pplication in relation to Lloyd's
- S. 4I nterpretation
- S. 5Q ualifications for registration
- S. 6R egistration of insurers
- S. 7R egistered insurers to be licensed
- S. 8R efusal, suspension and cancellation of insurers' licences
- S. 9(1) An insurer may on being notified of a suspension of his insurer's licence Representation
- S. 10C ancellation of registration of insurers
- S. 11P rincipal office and principal officer of registered insurers
- S. 12R eturns by and records of registered insurers
- S. 13A udit of accounts of insurers
- S. 14P ublication of authorised capital, etc., of registered insurers
- S. 15A malgamations and transfers of insurance business
- S. 16S tatement in case of amalgamation or transfer of business
- S. 17L ife insurers carrying on business other than life insurance business
- S. 18(1) A life insurer shall, once in every three years, cause an investigation to be Periodical
- S. 19No life insurer shall enter into a contract of reinsurance against any liability in Reinsurance contracts
- S. 20R egistration of brokers
- S. 21R egistered broker to be licensed
- S. 22R efusal, suspension and cancellation of brokers' licences
- S. 23C ancellation of broker's registration
- S. 24P rincipal office and principal officer of a registered broker
- S. 25R eturns by and records of registered brokers
- S. 26(1) A registered broker whose head office is outside Zambia shall each year Audit of the accounts
- S. 27I nsurance agents to be licensed
- S. 28R efusal, suspension and cancellation of insurance agents' licences
- S. 29If the proceeds on realisation of an asset, which was acquired with moneys Value of certain assets
- S. 30M inor may insure his life
- S. 31L ife policies effected by married persons
- S. 32L ife policy on own life: protection afforded during life
- S. 33If, on the death of the owner of a life policy, money or assets in respect of Protection for life
- S. 34P rotection afforded in respect of life policy inuring to spouse or children
- S. 35P rotection afforded in respect of life policy inuring to wife
- S. 36C ertain provisions in life insurance policies to be of no force or effect
- S. 37S election for realisation of life policies in respect of which protection is afforded
- S. 38P artial realisation and partial conversion of life policies
- S. 39P rovisions in case where life policy ceded or trust policy cannot be kept up
- S. 40L ife policies ceded or premiums paid with intent to benefit someone at the
- S. 41P roof of age
- S. 42A ge incorrectly stated
- S. 43(1) No life policy in which it is provided that the policy shall be void in the event Death of insured by
- S. 44L ost or destroyed life policies
- S. 45L ife policy may include disability benefits
- S. 46(1) No insurer shall make or permit to be made any discrimination in respect of Discrimination
- S. 47A pplication of certain provisions of Part V to industrial policies
- S. 48A pplication of certain provisions of Part V to sinking fund policies
- S. 49A pplication of certain provisions of Part V to funeral policies and other
- S. 50D ays of grace, paid-up policies and non-forfeiture provisions: life, industrial and
- S. 51O wner may cancel life policy within limited period without penalty
- S. 52D ays of grace, paid-up policies and non-forfeiture provisions: funeral policies
- S. 53G rant of more favourable terms than those specified in section 50 or 52 not
- S. 54U nlawfully acting as an insurer
- S. 55U nlawfully acting as a broker
- S. 56U nlawfully acting as an insurance agent
- S. 57I nsurers not to accept business from unlicensed agents
- S. 58S oliciting insurance business on behalf of an unregistered insurer or broker
- S. 59M alpractice in life insurance
- S. 60R egistrar of Insurance
- S. 61A nnual reports by Registrar
- S. 62(1) A registered insurer or registered broker or an applicant for registration as Business information
- S. 63D ocuments to be signed and copies supplied
- S. 64T ranslation of documents into English
- S. 65I nspection of documents, etc.
- S. 66C ertified documents as evidence
- S. 67I nvestigation of the affairs of an insurer or broker
- S. 68S pecial deposit to cover liabilities of an insurer or broker
- S. 69P rovisions concerning deposits made by insurers and brokers
- S. 70(1) In every local policy the sum insured, the premium and every other sum of Insurance to relate to
- S. 71J urisdiction in relation to local policies
- S. 72P olicies not invalidated by failure to comply with the law
- S. 73I nsurance forms subject to approval
- S. 74P olicies to be printed in clearly legible form
- S. 75C hange of name of insurers and brokers
- S. 76(1) At the request of an insurer the Registrar may, subject to the provisions of Registrar may
- S. 77P referred creditors of an insurer
- S. 78The Registrar may alter any prescribed form for the purpose of adapting the Adaptation of
- S. 79No registered insurer shall, without the consent of the Minister, increase or Control of motor
- S. 80A ssociation of insurers and/or brokers
- S. 81R egulations
- S. 82(1) This Act shall, save as otherwise expressly provided, apply in relation to Transitional
- S. IPRELIMINARY
- S. IIPROVISIONS RELATING TO INSURERS
- S. IIIPROVISIONS RELATING TO BROKERS
- S. IVPROVISIONS RELATING TO INSURANCE AGENTS
- S. VSPECIAL PROVISIONS GOVERNING LIFE AND OTHER INSURANCE
- S. VIOFFENCES AND PENALTIES
- S. VIIMISCELLANEOUS PROVISIONS