Zimbabwe Insurance and Pensions Commission convenes stakeholders and will establish a working group to implement public asset insurance under National Development Strategy 2

The Zimbabwe Insurance and Pensions Commission (IPEC) published an update on a high-level stakeholder consultative meeting in Harare with the Ministry of Finance, Economic Development and Investment Promotion and the insurance sector focused on advancing insurance coverage for public assets under the National Development Strategy 2 (2026–2030). The discussions positioned public asset insurance as a risk-transfer tool intended to reduce unplanned fiscal pressures on the Treasury when disasters and other insurable events occur. IPEC Commissioner Dr Grace Muradzikwa argued that insuring public assets would shift compensation for insured losses to insurers rather than requiring the Government to reallocate resources for repairs and replacement, and warned that significant investments in public infrastructure and institutions remain exposed without structured insurance protection. The Insurance Council of Zimbabwe’s technical committee chair, Brian Chirema, presented international case studies on the cost of uninsured public assets, while ZEP-RE’s Gloria Karissa described regional practice where public asset insurance has reduced post-disaster fiscal burdens. From the Ministry of Finance, chief accountant Wellington Havadi cited Cyclone Idai in 2019 as an example of the fiscal impact of uninsured damage and indicated the Government would consider options put forward by the insurance sector for an effective public asset insurance framework. As a next step, stakeholders resolved to establish a multi-stakeholder working group comprising IPEC, the Ministry of Finance and the insurance sector to drive implementation of public asset insurance in line with National Development Strategy 2.