What We Offer

ICZ administers insurance programs commonly known as pools. The insurance pools were set up by members through the pooling of resources. At the moment, there are three major pools which are Motor Insurance Pool (MIP), National Bureau of Zimbabwe (Yellow Card), Special Risk Insurance Consortium (SRIC)and Motor Insurance Bureau. Combined, these insurance pools underwrite sizeable insurance business in this market. The processes administered by ICZ include premium management and investments as well as claims disbursement.

motor insurance pool

The pool provides cover in terms of the Road Traffic Act to motorists visiting Zimbabwe who do not hold a Yellow Card. Pool insurance is issued at border posts by the Pool agents namely the Zimbabwe Revenue Authority and the Automobile Association of South Africa. All premiums collected (less commission) are paid to the Bureau. The Pool has its own constitution (under the umbrella of ICZ) and is managed by a committee elected by the participating members. All ICZ members who underwrite motor business are members of the Bureau on an equal share basis each underwriting year.

Special Risks Insurance Consortium Pool (SRIC)

The consortium was set up to provide insurance cover, collectively and not individually, for Special risks as determined by it, which shall include, all types of insurance cover, as determined and agreed upon by the Committee on behalf of Council members.

 

Professional Indemnity
An insurance policy developed for businesses that offer professional services, such as security companies, brokers, loss assessors, medical practitioners, and risk advisors. It covers negligence, errors, and omissions made by the policyholder.
Professional Indemnity for Security Companies
The scope of cover to be provided, the proposal form and its interpretation, the policy wordings to be used, and the rating structure are laid down by the managing committee.
Professional Indemnity for Insurance Brokers & Assessors
The scope of cover to be provided, the proposal form and its interpretation, the policy wordings to be used, and the rating structure are laid down by the managing committee.
Passenger Personal Accident (PPA) for Public Service Vehicle (PSV)
PSV’s are required to take out insurance to provide no-fault personal accident cover for passengers. Policies are issued by member insurers on behalf of the Consortium. All premiums collected are paid to the pool.

Frequently Asked Questions

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What Is Insurance Services?
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How Many Service We Provide ?
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How Much Experience Our Team Member ?
Serenity Is Multi-Faceted Blockchain Based Ecosystem, Energy Retailer For The People, Focusing On The Promotion Of Sustainable Living, Renewable Energy Production And Smart Energy Grid Utility Services.

Yellow Card

Is a third-party motor vehicle insurance for cross border traveling motorists traveling in the COMESA region.

What Is Yellow Card Scheme?

It is a regional third-party motor vehicle insurance scheme recognized by COMESA member countries as evidence of guarantee to provide the minimum insurance cover required by the laws of the country visited by the traveling motorists.

It was established by a protocol signed by Heads of State and Government in 1986 and became operational on 1st July 1987.

national Bureau Of Zimbabwe (COMESA YELLOW CARD)

The Bureau is responsible for the operation of the COMESA Yellow Card scheme. The Bureau has its own Constitution (under the umbrella of ICZ) and is managed by a committee elected by the participating members guided by the COMESA instruments and yellow Card manual. The COMESA Yellow Card scheme provides Third Party Cover to motorists traveling to COMESA member countries outside Zimbabwe.  The Cover provided is in accordance with the legal requirements of the country being visited. ICZ members who underwrite motor business are members of the Bureau on an equal share basis in each underwriting year. They also collect premiums on behalf of the Bureau for a commission.

Objectives Of Yellow Card

Objective 1
To provide at least a minimum guarantee, for road accident victims, compensation for injury or damage which may be sustained as a result of inter-state road traffic accidents.
Objective 2
To facilitate easy movement of vehicles, persons, and goods and encourage the development of trade and tourism in the region.
Objective 3
To provide the insurance industry with a simple and economical mechanism to operate.
The Insurance Council (ICZ) of Zimbabwe is a voluntary association of short-term insurers and reinsurers in Zimbabwe. It is governed by a constitution and a code of conduct. All its members are duly registered by the Insurance and Pensions Commission of Zimbabwe.

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