Insurance business is defined under the Insurance Act 2009 as the business of assuming the obligation of an insurer in any class of insurance whether defined in the Act or not, which is not declared to be exempt from the provisions of the Act in terms of Section 2 and includes assurance and reinsurance and reassurance.
General Insurance business comprises the following classes: accident, and vehicles, railway rolling, aircraft, ships, goods in transit, fire and natural forces, damage of property, motor vehicle liability, aircraft liability, liability for ships, general liability, credit, surety ship, miscellaneous, legal expenses, and assistance (as per Part B of the Second Schedule of the Insurance Act 2009). This is a line that JIAC Insurance Agency provides services.
Long Term Assurance business is defined as meaning life and annuity business, marriage and birth business, linked long term business, and permanent health insurance business (as per Part A of the Second Schedule of the Insurance Act 2009).
The JIAC Insurance Agency is a private limited liability company 100% owned by Tanzanians. JIAC Insurance Agency was registered in 2017 under the laws of the United Republic of Tanzania and got certificate of registration NO. 437228. JIAC Insurance agency applied and obtain Insurance agency License from Kinondoni Municipal Council. As required by the Insurance Act No. 10 of 2009 JIAC has a license from the Tanzania Insurance Regulatory Authority (TIRA) to operate as Insurance Agent.
JIAC Insurance Agency operates under Jubilee Insurance Company of Tanzania Limited and works for general insurance business. JIAC specializes in personal and commercial insurance offerings including properties insurance, motor vehicles covers, Contractors risks covers, Marine, mining and transportation covers.We are also enriching our staff team so that we can assist our client in risk management function. JIAC serves both individual and corporate bodies.