The Insurance and Pensions Commission (IPEC), the regulator of Zimbabwe's insurance and pensions industry, has published its Market Conduct Framework for the Insurance and Pensions Industry. Sanctuary Insurance Company is licensed and regulated by IPEC, and we are making the framework available here so that our customers can read the standards the industry is held to.
The document is IPEC's own and is reproduced here exactly as published. It runs to 18 pages. IPEC introduced it to the industry in Circular No. 10 of 2025, dated 28 March 2025 and addressed to all insurers, reinsurers, insurance brokers and agents, pension funds and pension fund administrators. In the Commissioner's words, the framework:
- was developed in terms of section 5(3) of the Pensions and Provident Funds Act [Chapter 24:32] and section 6 of the Insurance Act [Chapter 24:07];
- is consistent with Insurance Core Principle 19, which requires fair treatment of customers by both insurers and intermediaries before, during and after a contract is entered into, until its termination;
- dovetails with international best practice and is crucial for promoting consumer protection, market integrity, risk management and compliance, for the benefit of both the industry and its customers;
- is operational from 1 April 2025, and all insurance and pensions industry players are expected to comply with it.
The circular is signed by Grace Muradzikwa, Commissioner of Insurance, Pension and Provident Funds.
Download the PDF (480 KB) Download the circular (72 KB)
Where else to find it
The framework is also published on IPEC's own website at ipec.co.zw. If you have a question about how it applies to your cover, talk to the team on the contact page.