This Act converts the National Special Risks Insurance Association established in terms section 21 of the Companies Act, 2004 into a public company having a share capital, with shares held by the State. It also determines the nature and ambit of the special risks that the Company may underwrite and the role of the State in the short-term insurance industry as regards special risks and to reduce the reinsurance risk exposure of the State. One of the risks that may be covered is loss in respect of a mortgage loan. Risks may arise from political strife or public disorder.
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LAC Assists People from All Walks of Life
The LAC's main objective is to protect the human rights of all Namibians. It is the only organisation of its kind in Namibia. It has an office in Windhoek, Namibia's capital. It is funded primarily by national and international donor organisations. Its work is supervised by the Legal Assistance Trust, whose trustees include legal practitioners, other professionals and community leaders.
It works in five broad areas: