The Tanzania Insurance Regulatory Authority instructed NMB employees designated to conduct insurance business in the southern regions of Lindi, Mtwara and Ruvuma to comply with insurance laws, regulations, guidelines and operating procedures. The training adds an operational compliance focus to the authority’s work with NMB to expand insurance distribution through the bank’s network. Staff must have the required professional qualifications, and branches providing insurance services must have an insurance officer. They were also directed to use complaints and claims registers to record and track customer complaints promptly, including those concerning another insurer or agent, and to charge premiums in line with the Minimum Premium Rate Order and other legal requirements.
2026-09-16Tanzania Insurance Regulatory Authority
Tanzania Insurance Regulatory Authority reinforces compliance requirements for NMB bancassurance staff
The Tanzania Insurance Regulatory Authority reinforced compliance requirements for NMB bancassurance staff in Lindi, Mtwara and Ruvuma. Staff must meet professional standards, ensure insurance officers are present at relevant branches, maintain complaints and claims registers, and comply with minimum premium rates and other legal requirements.