FINANCE and National Planning Minister Dr Situmbeko Musokotwane says Zambia remains significantly underinsured, with insurance penetration averaging only 2.4 percent in 2024, compared to a global average of about seven percent Meanwhile, Insurers Association of Zambia (IAZ) president Irene Muyenga says Insurance companies have suffered considerable financial setbacks due to abrupt garnishing of accounts linked to disputed bond obligations. In a speech read on his behalf by the Ministry Director of Economic Management Mulele Mulele at the Annual Insurance Conference, Monday, Dr Musokotwane said government wanted to see Zambia’s insurance industry continue expanding and extending greater support to economic actors during challenging times. “The government acknowledges the industry’s critical role in safeguarding livelihoods and promoting stability. I commend your efforts...