Crimson Capital News Details

June, 2015

Afghanistan: Crimson Supports Improved Insurance-sector Supervision

As part of the USAID-funded Financial Access for Investing in the Development of Afghanistan (FAIDA) project, Crimson recently completed a technical assistance mission to support the development of the Afghanistan Insurance Authority (AIA). The AIA is the insurance regulatory and supervisory body for Afghanistan, responsible for licensing and supervising insurance companies, brokers and surveyors.

Crimson-provided technical assistance to the AIA on a number of areas related to insurance supervision, including: developing a standardized format and check list for on-site inspection and off-site analysis of insurance operators; developing licensing application forms for insurance companies and insurance intermediaries; developing a manual for off-site analysis; delivering a series of 12 training modules over a six week period to AIA staff focused on off-site analysis and on-site inspection; and assisting the AIA develop minimum criteria that should be applied for licensing new insurance operators.

The objective of the USAID-FAIDA project is to build a sustainable, diverse and inclusive financial sector that meets the needs of micro, small and medium sized enterprises (MSMEs) and fosters job creation. Crimson supports FAIDA under a subcontract to Chemonics International.