Insurance in Burkina Faso

The Direction des Assurances within the DGTCP supervises the national market and implements the CIMA rules. The CRCA provides regional supervision, while licensed insurers, intermediaries, experts and reinsurers operate under this framework. Official figures provide a 2021 premium volume of 124.886 billion FCFA and insurance penetration of 1.14%. A 2023 benchmark counted 17 companies, including 7 life insurers, 8 non-life insurers, 1 reinsurer and 1 micro-insurer. A 2024 study reported 18 companies but listed 9 non-life, 7 life, 1 micro-insurance and 2 reinsurance companies, which produces a different total. Vista Assurances began operating in 2025, and Faso Réassurance received CRCA approval in 2024. CNSS provides family benefits, protection against occupational risks and pensions for employees and assimilated workers. The published CNSS contribution rate is 21.5% of capped monthly remuneration up to 800,000 FCFA: employers pay 16%, consisting of 6% for family benefits, 1.5% for occupational risks and 8.5% for old age, while workers pay 5.5% for old age. Self-employed workers, people in agro-sylvo-pastoral activities, informal economic workers, liberal professionals and organised artisan, industrial and commercial groups can apply for CNSS assurance volontaire. This voluntary scheme covers the pension branch only, requires an application form, a birth certificate and a CNIB or passport, and is funded entirely by the insured person. The published contribution range is 6,300 to 112,000 FCFA per month. Payment is due within 30 days after the relevant month or quarter; 12 months without payment can end the insured status. A CNSS pension generally requires age 56 and at least 180 months of contributions, while a shorter contribution period leads to an old-age lump sum rather than a pension. CARFO covers public agents, military personnel and magistrates. Its protection includes old age, invalidity, death and professional risks, with pensions, survivor and invalidity benefits, incapacity support and medical or social assistance. A retirement claim should preferably be filed six months before departure, and the official procedure is free. The exact contribution split follows Decree 2022-0855. Private assurance is available through licensed providers, intermediaries and agencies. Documented products include compulsory motor third-party liability, civil liability, habitation and multirisk cover, fire, construction, transport, professional risks, agriculture-related risks, travel, personal accident, life and capitalisation, credit and surety. Health products also exist, although detailed health matters belong to the health subject area. Micro-assurance and reinsurance are recognised market segments. Premiums are paid in FCFA, but private prices depend on the insured risk, insured amount, term and sales channel; the reviewed official material does not establish a universal tariff or one nationwide payout period. Customers can approach an insurer, intermediary or agency. Some providers offer digital subscription, contract access, premium payment and claim tracking. Documented payment channels include Orange Money, MOOV Money, Telecel Money and cards, but availability depends on the provider and locality. A proposal alone does not bind the parties. The policy or note de couverture establishes the commitment, and the premium must be paid before cover takes effect. The 2024 CIMA update requires pre-contract information on price, guarantees and exclusions, and accepts electronic records. Before signing, check the provider or intermediary authorisation, the insured person or object, covered risks, insured amount, term, premium, exclusions, renewal rules, claim channel, indemnity deadlines, damage assessment, prescription and cancellation notice. The insured must pay the premium, answer risk questions truthfully and notify the insurer of a new or aggravated risk within 15 days. A claim should be reported promptly, and the contractual deadline cannot be shorter than five working days. Theft and livestock mortality must be reported within 48 hours. Late notice does not automatically remove cover: the insurer must prove prejudice, and force majeure remains relevant. The insurer must provide the contracted service within the agreed period. Exclusions, nullity and forfeiture clauses must be visibly stated, and property compensation cannot exceed the value of the property at the time of loss. Motor third-party liability is compulsory for vehicles, trailers and semi-trailers circulating under a non-state owner or entity. The cover protects the civil liability of the owner, subscriber, keeper or driver and passengers within the CIMA exclusions. The attestation or certificat proves the cover. Compulsory liability normally does not cover the driver's own bodily injury, so separate own-damage or personal protection may be needed. For motor bodily-injury claims, CIMA Regulation 0004/21 provides for an offer within six months after medically confirmed consolidation. In a death case, the offer is due within six months after death and one month after receipt of all required documents. If consolidation is unknown, the insurer can make a provisional offer and must make the definitive offer within two months after receiving notice of consolidation. The insurer must respond to a victim's request within 15 days, and an agreed amount must be paid within 15 days after the period for denouncing the settlement. Late payment interest is 5% per month. Property-only damage follows the policy and applicable rules rather than this bodily-injury offer regime. A claim normally moves from the insurer, agency or digital channel to registration, local review, technical or legal review and, for major losses or contract disputes, head-office review before payment or a reasoned refusal. Keep the policy, proof of premium, identification and any incident report, police record, expert report or invoice required by the contract. Contractual actions generally prescribe after two years. Life claims and personal-accident death claims for beneficiaries generally prescribe after ten years. A qualifying written or digital notice, an expert appointment or another ordinary legal cause can interrupt prescription. Annual contracts can generally be cancelled after one year with at least two months' notice, subject to exceptions for individual health, construction and non-private risks; life contracts are excluded from this general rule. If a risk becomes more serious, the insurer may cancel and refund the unused premium or reprice the contract. If the risk decreases and the premium is not reduced, the insured may cancel. Complaints should first use the insurer's internal complaint channel, including an agency, telephone, letter, email, website, application or social-media channel. If the answer is unsatisfactory, the complaint can proceed to the Direction des Assurances and then be submitted through the CRCA process. OQSF-BF offers free external financial mediation after internal remedies have been exhausted and covers insurers, CNSS and CARFO. A 2024 survey found internal complaint systems at 91% of insurers and physical or mail-email channels at all surveyed insurers, but recorded nine answered insurance complaints and three unanswered complaints, showing a response gap.