US$ transactions heighten life assurance risks

Mishma Chakanyuka                                                                                                                                                                                            THE Insurance and Pensions Com­mission (IPEC) has urged life assurers accepting cash premiums to strengthen their transaction monitoring processes in view of the risks associated with the escalating proportion of US$ transac­tions. This comes as US$ cash transactions continue to dominate Zimbabwe’s econ­omy, accounting for over 90 percent of physical cash transactions…