The new technology extends relief to insurers to curb industry fraud Kampala, Uganda | ISAAC KHISA | For many years, Uganda’s insurance firms have failed to grow the Motor Third Party Insurance business amidst a surge in the number of vehicles on the roads as a section of motorists resorted …
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Under this scheme, a farmer is required to pay about 30,000 shillings per acre to insure their crops each season. Once their crops are affected by either drought or rain, they are entitled to a minimum compensation of Shillings 150,000 per acre of the crop depending on the market price. …
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Kampala, Uganda | THE INDEPENDENT | Insurance training institutions across Africa say the coronavirus crisis has presented them with an opportunity to save money through conducting online classes for the professionals in the industry. In a zoom meeting with players from all over Africa, participants said before the outbreak of …
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Gross underwritten premiums to plummet in 2020 THE INDEPENDENT | ISAAC KHISA | A surge in claims and management expenses saw Uganda’s nonlife insurance firms record 8% drop in profit to Shs17.93bn for the year ended Dec.2019. However, the industry executives said there is nothing to worry about since the …
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Kampala, Uganda | THE INDEPENDENT | Ugandans and businesses should be given a grace period of up 90-days in which to pay their insurance before they are rendered uncovered, the industry regulator Insurance Regulatory Authority has advised. In a letter to all insurance companies, IRA advises that a “grace period …
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Kampala, Uganda | THE INDEPENDENT | As most businesses scratch for options on how they will cover for losses incurred as a result of coronavirus disruption, it has emerged that insurance providers may not be a run to option. This according to several players in the industry is because COVID-19 …
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Kampala, Uganda | ISAAC KHISA | International Air Ambulance (IAA) Healthcare, a leading Health Membership Organisation in Uganda has announced that it will not cater for medical bills for any of its clients infected with coronavirus. This follows declaration of the disease as pandemic by the World Health Organisation. …
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Kampala, Uganda | THE INDEPENDENT | The Insurance Regulatory Authority CEO Ibrahim Lubega Kaddunabbi has said the industry is ripe for disruption as advances are made in the digital space especially in the insur-techs. He warned that insurance players should therefore ensure that there are constantly evolving their methods to …
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China starts lifting restrictions on foreign investment Beijing, China | AFP | China has started lifting major restrictions on foreign investment in its financial sector, a move long demanded by the United States as the world’s two biggest economies are locked in a fierce trade battle. From the start of …
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Kampala, Uganda | THE INDEPENDENT | Sanlam General Insurance Limited has sued Katuma Tours and Travel Limited for alleged failure to pay more than 55 million shillings for comprehensive insurance provided for their vehicles. Sanlam provided comprehensive insurance for the Travel company’s motor vehicles between 2017 and 2019. But the …
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The Independent Uganda: You get the Truth we Pay the Price