Some local insurers may be failing to provide full disclosure around their products resulting in a lot of misconceptions and mistrust around insurance, the Insurance Council of Zimbabwe (ICZ) has said.
The short-term insurance body said it is concerned over the lack of awareness of the public over the motor insurance products on the market and their benefits.
“Most people lack appreciation of the need and use of insurance as a means of preserving their assets. Motor insurance contributes 40 percent of the short-term insurance’s gross premium.
“Unfortunately, the public has inadequate information on types of