About
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Short-term insurance brokers are registered and regulated in terms of the Short-term Insurance Act, 1998 ( Act No. 5 of 1998) (“the Act”).
In terms of the Act, an “insurance broker” negotiates short-term insurance business (excluding reinsurance) on behalf of another person with insurers, excluding insurance agents or insurer employees unless their remuneration includes commission.
Registration Process
- Apply for access to the NAMFISA Online Electronic Regulatory System (ERS) and reserve the entity’s proposed name
- To submit any applications to NAMFISA, an applicant must:
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- Apply to create a profile on NAMFISA Online
- Apply to reserve the proposed entity name
- Complete the Application for Registration Form on NAMFISA Online (ERS)
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Once the applicant’s profile has been created, they will be granted access to an Application for Registration Form on NAMFISA Online (ERS).
This online form must be fully completed and submitted.
NB: If submitted successfully, the status of the form will change to “pending approval”.
Application Requirements
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The Application Form should be accompanied by the documents listed in section 9 of the form and the application fee paid – NAMFISA Banking Details.
The Application Form should be accompanied by the documents listed in section 9 of the form and the application fee paid – NAMFISA Banking Details.
Download Document
The Application Form should be accompanied by the documents listed in section 5 of the form and the application fee paid – NAMFISA Banking Details.
The Application Form should be accompanied by the documents listed in section 5 of the form and the application fee paid – NAMFISA Banking Details.
Download Document
The FAP Requirements Form is to be completed by broker individuals. The NP FAP Questionnaire must be initialled on every page and signed in the presence of an independent Commissioner of Oaths (or a Notary Public, if signed outside Namibia).
The FAP Requirements Form is to be completed by broker individuals. The NP FAP Questionnaire must be initialled on every page and signed in the presence of an independent Commissioner of Oaths (or a Notary Public, if signed outside Namibia).
Download Document
The Sworn Affidavit is to be completed by broker individuals. The affidavit must be initialled on every page and signed in the presence of an independent Commissioner of Oaths (or a Notary Public, if signed outside Namibia).
The Sworn Affidavit is to be completed by broker individuals. The affidavit must be initialled on every page and signed in the presence of an independent Commissioner of Oaths (or a Notary Public, if signed outside Namibia).
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No registered broker firm shall –
- Change the name under which it is registered
- Use or refer to itself by a name other than the name under which it is registered
- Use or refer to itself by a shortened form or derivative of the name under which it is registered, without the prior written approval of the Registrar
Requirements:
- Application Form – Change of Name ST Broker Firm, The application form should be accompanied by the documents listed in section 9 of the form and the application fee paid – NAMFISA Banking Details
- Effect the change on NAMFISA Online (ERS) by completing and submitting a “Change Company Name” Form
- Once the form is submitted on NAMFISA Online (ERS), email the application to licensing@namfisa.com.na or hand deliver it to NAMFISA (Reception, Upper Ground Floor, 51 -55 Werner List Street, Gutenberg Plaza, Windhoek)
A broker firm must inform NAMFISA should the address of its principal place of business change.
Requirements:
- Letter notifying NAMFISA of the change
- Effect the change on NAMFISA Online (ERS) by completing and submitting a “Change Company Details” Form
- Once the form is submitted on NAMFISA Online (ERS), email the notification to licensing@namfisa.com.na or hand deliver it to NAMFISA (Reception, Upper Ground Floor, 51 -55 Werner List Street, Gutenberg Plaza, Windhoek)
A broker must inform NAMFISA should its contact details or that of its principal officer change.
Requirements:
- Letter notifying NAMFISA of the change
- Effect the change on NAMFISA Online (ERS) by completing and submitting a “Change Company Details” Form
- Once the form is submitted on NAMFISA Online (ERS), email the notification to licensing@namfisa.com.na or hand deliver it to NAMFISA (Reception, Upper Ground Floor, 51 -55 Werner List Street, Gutenberg Plaza, Windhoek)
Requirements:
- Letter notifying NAMFISA of the change
- Effect the change on NAMFISA Online (ERS) by completing and submitting a “Change Company Details” Form
- Once the form is submitted on NAMFISA Online (ERS), email the notification to licensing@namfisa.com.na or hand deliver it to NAMFISA (Reception, Upper Ground Floor, 51 -55 Werner List Street, Gutenberg Plaza, Windhoek)
A broker firm must inform NAMFISA when it appoints a new principal officer.
Requirements:
- Letter notifying NAMFISA of the change
- Fit and Proper FAP Requirements Form (ST Broker Individual )which must be initialled on every page and signed in the presence of an independent Commissioner of Oaths (or a Notary Public, if signed outside Namibia)
- Sworn Affidavit(ST Broker Individual) which must be initialled on every page and signed in the presence of an independent Commissioner of Oaths (or a Notary Public, if signed outside Namibia)
- Abridged/Shortened Curriculum Vitae
- Original certified copy of Identity Document/Passport
- Original certified copies of highest Educational Qualifications
- Effect the change on NAMFISA Online ERS by completing and submitting a “Change of Company Details” Form where the above-mentioned documentation must be uploaded
- Once the form is submitted on NAMFISA Online (ERS), email the notification to licensing@namfisa.com.na or hand deliver it to NAMFISA (Reception, Upper Ground Floor, 51 -55 Werner List Street, Gutenberg Plaza, Windhoek)
When a broker firm appoints a new broker, it must apply for the person to be registered as a broker individual. Once registered, the broker individual will appear under the broker firm’s profile on NAMFISA Online (ERS).
Requirements:
- Application Form – Registration as a Short-term Insurance Broker Individual The application form should be accompanied by the documents listed in section 5 of the form and the application fee paid – NAMFISA Banking Details
- Fit and Proper (FAP) Requirements Form (ST Broker Individual) The FAP Requirements Form is to be completed by broker individuals. The NP FAP Questionnaire must be initialled on every page and signed in the presence of an independent Commissioner of Oaths (or a Notary Public, if signed outside Namibia)
- Sworn Affidavit (ST Broker Individual). The Sworn Affidavit is to be completed by broker individuals. The Sworn Affidavit must be initialled on every page and signed in the presence of an independent Commissioner of Oaths (or a Notary Public, if signed outside Namibia)
- Complete and submit the Application for Registration Form to register broker individuals on NAMFISA Online ERS, where the above-mentioned documentation must be uploaded
A broker individual must immediately notify NAMFISA in writing if he/she intends to move from one broker firm to another.
Requirements:
- Application – ST Broker Individual Movement
- At least 3 Letters of Intent from Insurers or Broker Firm
- NAMFISA Levy Statement (with no arrears)
- Certified copy of ID / valid Passport
- Certified copy of a valid/unexpired Membership with Broker Controlling Body (NAIB or NIBA)
- Proof of valid/unexpired Professional Indemnity Insurance Cover of not less than N$1,000,000.00 (one million Namibian dollars). The broker individual should be indicated as one of the insured
- Copy of their NAMFISA licence
- See section 57 of the Short-term Insurance Act.
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