The Fédération des Sociétés d'Assurances de Droit National Africaines (FANAF) and the Association Professionnelle des Sociétés d'Assurance du Burkina Faso (APSAB) have announced that insurance companies in Burkina Faso and other member states of the Conférence Interafricaine des Marchés d'Assurances (CIMA) will enforce article 13 of the CIMA code. This article stipulates that the guarantee of an insurance contract does not take effect until the premium is paid. The decision was made during the 12th Forum des Marchés, which took place in Lomé on November 2-3, 2026.
The article 13 of the CIMA code prohibits insurance companies from underwriting or renewing a contract without payment of the premium. The regulation allows for a payment deadline in limited cases and under certain conditions for state risks and important risks. However, if the premium is not paid within the deadline, the contract is automatically terminated. This rule aims to protect policyholders by ensuring that claims are settled with the collected premiums.
To implement this decision, insurance companies that are members of FANAF and APSAB have agreed to take certain measures. They will not issue any insurance document, including policies, endorsements, or attestations, before the full payment of the corresponding premium. In health insurance, no incorporation will be made in the policy and no health insurance card will be issued to the insured until the incorporation premium is paid.
The insurance companies have also agreed to set the effective date of the guarantee as the date of payment of the premium. They will not renew any contract without payment of the premium for the new period. Insurance companies will send a notice of expiration to policyholders at least 45 days before the expiration date. In health and diversified risk insurance, underwriting a new contract with a different insurance company will require an attestation of non-redebtedness from the previous company.
Policyholders, including enterprises, public organisms, private enterprises, and individuals, are expected to pay the premium before the policy takes effect. Public accounting services and organisms will pay the premium within the maximum delay fixed by the Commission Régionale de Contrôle des Assurances (CRCA). If the premium is not paid within the deadline, the contract will be automatically terminated.
The FANAF and APSAB have called on all stakeholders, including clients, intermediaries, and insurance companies, to commit to the good application of these dispositions. Clients can address any questions to their insurance company, intermediary, or APSAB. These dispositions will apply immediately to all underwritten or renewed contracts.
The implementation of article 13 of the CIMA code aims to protect policyholders and ensure the sustainability of insurance companies. The attestation of non-redebtedness in health and diversified risk insurance will prevent unpaid premiums with one insurance company from being followed by a new guarantee with another company.
Key points
- Insurance companies in Burkina Faso and other CIMA member states will enforce article 13 of CIMA code, requiring payment of premiums before policy takes effect.
