Ipec moves to compensate policyholders

IN a major development, the Insurance and Pensions Commission (Ipec), says it will soon compensate thousands of policyholders who lost their life savings in 2009 when the country introduced a multi-currency system.
The loss of savings occurred when the country switched to the United States dollar in 2009 ― following the consummation of the short-lived but stability-inducing government of national unity (GNU) ― leading to the de-monetisation of the then worthless local currency.
This comes as Ipec has agreed with stakeholders on the compensation roadmap.