Insurance is a vital tool for economic survival of any modern society, and a vehicle for the economic protection of the individual and State.
Insurance Law in Cameroon is governed by the CIMA code known in French as “Code des Assurances des Etats membre de la CIMA”. CIMA is the Central insurance supervisory authority in Sub-Saharan French speaking African countries. Presently, it groups: Benin, Burkina Faso, Congo-Brazzaville, Mali, Niger, Senegal, Togo, Equatorial Guinea and the Comoros Islands.
This Law has as advantages;
- To rationalize a common Insurance Law applicable throughout its member
- To reinforce the protection of the insured, beneficiaries and increase the victims’ quantum of
This Law has the added advantage of having a comprehensive policy of control in insurance companies and operations throughout the member States. All member States have a common curriculum to train Insurance Experts and to meet up with new areas of insurance in African States.
With the coming into force of the CIMA Code, our lawyers have equipped and acquainted themselves with the provisions, implications, application, and implementation of the CIMA Code.
We have a proven track record and experience in obtaining insurance licenses, better compensation of victims (with the recent increase of the monthly guaranteed minimum wages), drafting of Re-insurance contracts, drafting of standard form insurance policies of various insurance companies.
We refer you to our disclaimer notice. For any further information, legal & advisory services in the insurance sector, please contact the NICO HALLE & Co. LAW FIRM at [email protected]