The Central Equatoria Council of Ministers has passed the Insurance Bill which will regulate business and investment activities in the State.

The State Minister of Information, Suba Samuel Manase, told Eye Radio that, the bill supports the establishment of the State Insurance Regulatory Authority.

He said the insurance authority will license and register insurance companies and develop policies for their operations.

“The purpose of that bill is for the establishment of this body, which will be responsible for regulating the activities and the businesses of all insurance companies, agents and intermediaries who will be engaged in the insurance business in the State.” He said.

“The function of this insurance authority, first of all, is to license and register the insurance companies and to develop policies of how they have to operate in the state and also to initiate some policies and give them Council of Ministers for discussion on how this insurance sector should be able to develop in the state.” He Suba Samuel Manasse added.

He said the insurance bill will be taken to the State Legisilative Assembly for deliberations.