MONROVIA, LIBERIA-The Central Bank of Liberia (CBL) in collaboration with the Liberia Law Reform Commission, has ended a three-day validation Workshop in Monrovia.
The Director of Insurance at the CBL, Nathaniel Gbagbah, said the gathering aimed at constituting an Independent Insurance Regulatory Commission, amended by the National Legislature in 2020.
Mr. Gbagbah disclosed that only two percent of the population is insured or has knowledge of insurance.
He said the establishment of the commission will enforce mandatory insurances like marine, third party, and cargo insurance, amongst others will be enforced by the body.
Meanwhile, Mr. Gbagbah said the regulatory commission will ensure the payment of claims on time.
By: Steven Dorbor
