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Tag Archives: IRA

Fraud persists in motor third party insurance despite mobile platform

Kampala, Uganda | THE INDEPENDENT | Uganda’s insurance industry is struggling to deal with the high levels of evasion of the Motor Third Party Insurance, a compulsory insurance policy for all motor vehicle or motorcycle owners. The insurance industry players say boda boda riders or owners, followed by taxis, are the …

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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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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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Insurance premiums to increase as players cater for fraud

      Kampala, Uganda | THE INDEPENDENT  | Ugandans and companies buying insurance policies will likely pay higher premiums after insurance companies discovered widespread fraud by hospitals and some customers in the medical insurance side. The increased premium cost is a direct impact of fraud in insurance with insurers …

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