A call has been made on the government to form an independent insurance regulator to oversee the insurance industry.
A common insurance market in West Africa will lead to important prospects as well as bring about cost savings, among other benefits to the population, according to Mr Mamadi Dampha, deputy permanent secretary at the Ministry of Finance and Economic Affairs.
The West African Insurance Companies Association (WAICA) is engaging governments to insure infrastructural projects across the sub-region.
The Central Bank of The Gambia (CBG) in collaboration with the African Risk Capacity (ARC) are looking at launching non-sovereign parametric micro/meso insurance in The Gambia.
The West African Insurance Supervisors Association (WAISA) has established the College of Insurance Supervisors for the West African Monetary Zone (CISWAMZ).