FAQ's (Frequently Asked Questions)

Insurance  FAQ’s


Q. What is an insurance intermediary?

A. An intermediary is an agent and broker.


Q. What is an insurance agent?

A. An insurance agent means a person who is neither an insurance broker, nor an employee of an insurer, underwriter or insurance broker and who undertakes the selling or servicing of any kind of insurance business on behalf of such an insurance company or insurance broker.

Q. What is an Insurance Broker?

A. Means a person, other than an employee of an insurer, who is not an insurance agent and who, on behalf of any person, negotiates insurance business including reinsurance as his principal business.


You have a right to choose your insurer and intermediary.

Q. If you have loaned money or leased goods, and are required to provide security under such a contract by means of an insurance policy E.g. Buying a TV or car. Can the contracting party choose which insurance policy you are insured under?

A. No , all consumers have a right to choose their insurer and intermediary (broker) when entering into and ceding a new policy contract to secure debt or an existing policy.

Issuing of stamped or printed receipts from institutions.

Q. If you have paid for a premium in bank notes notes or coins must the insurer issue you with a receipt?

A. Yes, Under section 51 of the Insurance Act 2005, all insurers ho have received payments  for premiums must issue you with a written receipt of payment which must contain in print or stamp the name of the institution that has received your payment.

Q. Is my insurer responsible for the actions of my insurance agent?

A. Yes, the insurer is also liable for any claim for loss or any damages arising from the action of the agent.

Q. What is short term insurance?

A. Is a cover for a short period of time, ranging from a day to twelve months. Short term insurance provides cover against any loss or damage to property