5 May 2005
Maputo — The Mozambican state should do more to guarantee effective defence of citizens and their property against third parties' negligence, reports Thursday's issue of the Maputo daily "Noticias", citing Pedro Bule, the administrator of the publicly owned Mozambican Insurance Company (EMOSE).
Bule noted that about 97 per cent of the country's Gross Domestic Product (GDP) is not insured, and Mozambique should learn from other countries' experience how to extend insurance services to cover more people.
He was commenting on the preparations for the annual meeting of the PTA-Reinsurance Company, to take place in Maputo between 7 and 9 May, gathering representatives of 30 countries of the Common Market of Eastern and Southern Africa (COMESA), an organisation of which Mozambique is no longer a member.
PTA-Reinsurance is a company aimed at promoting and developing the insurance industry in various parts of Africa.
To illustrate the need for the state to protect its citizens' lives and property, Bule gave the example of the buildings administered by the State Housing Agency, APIE, most of which were later sold to their tenants.
He noted that while the houses belonged to the state, they were insured against many risks, but these contracts were terminated as the houses were sold off, thus creating a situation where an accident in one of the apartments may cause serious damage to other residents of a condominium, against which they are not insured.
Bule admitted that "People don't know much about insurance in Mozambique. Ordinary citizens don't know the range of products that insurance can offer. They don't know, for instance, that there is an insurance for scholarships, that a yearly contribution from the parents can insure a child's university studies".
He also noted that the only compulsory industrial insurance in Mozambique is against work accidents, imposed on companies with more than five workers.
But Bule pointed out that, in somen countries, to apply for a license for certain activities one must produce an insurance policy, and this should be applicable in Mozambique, for instance with schools, discos, sports clubs, and others, where citizens are exposed to some risk.
Speaking of the planned meeting, Bule said that Mozambique expects to learn some experiences from countries such as Sudan and Uganda, that have attained high levels of insurance coverage.
Mozambique holds 160 shares in PTA-Reinsurance, valued at 20,000 US dollars.
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