News7 March 2025
The Law Reform Commission and the Central Bank of Liberia convened a three-day validation workshop from 5–7 March 2025 to review and finalise the Draft Insurance Act of 2020.
The proposed legislation is designed to establish an independent Liberia Insurance Commission with specialised responsibility for regulation and supervision of the insurance industry. The validation brought together public institutions, insurance-sector representatives and other stakeholders to examine the draft and strengthen its regulatory, consumer-protection and governance provisions.
The exercise formed part of the wider process of modernising Liberia's financial-sector legal framework before submission through the appropriate government and legislative channels.
