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Tag Archives: Insurance

Insurance companies restless over increasing taxation

Kampala, Uganda | THE INDEPENDENT | Insurance players in Uganda have said that the high taxes imposed on insurance premiums are kicking them out of business. An insurance premium is the amount of money an individual or business pays for an insurance policy. Insurers say that on top of every …

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Banks boost customers’ confidence in insurance – Players

Kampala, Uganda | THE INDEPENDENT | More Ugandans are buying insurance through their banks as the channels have boosted confidence in insurance, players have said. Official figures show an upward curve of insurance products through banks, which is technically known as bancassurance. It started in Uganda in 2017 after the amendment …

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7,000 farmers in Lango enroll for crop insurance scheme

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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Virtual classes saving us money- Insurance trainers

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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Insurers asked to give policy holders 3-months grace period

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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No insurance cover for Uganda’s coronavirus patients

  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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ICEA Uganda marks 20 years

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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