School insurance is a growth market in Cameroon
Of the school fees paid by the 5.5 million pupils counted by the Ministry of Secondary Education (MINESEC) and around 5 million pupils counted by the Ministry of Basic Education (MINEDUB), the sum of 100 FCFA per pupil is deducted to insure children against the risks to which they are exposed on their way to school. According to Augustin TCHAMANDE, teacher and audit expert, this insurance diversifies and channels claims settlement costs. "Insurance companies have an available and permanent market on their hands", he adds. Compulsory" school insurance also covers the school and its staff. Reimbursement of tort costs, which cover losses that occur on campus, amounts to 20 million FCFA for civil liability. This amount rises to 10 million FCFA in the event of bodily injury to staff. It should be noted that, in addition to the basic "compulsory" insurance, some parents take out comprehensive school insurance.
