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Tag Archives: IRA

Fighting insurance fraud

  Ibrahim Kaddunabbi and Allan Mafabi IRA boss tips sector executives on managing scams that could haunt performance   Kampala, Uganda | JULIUS BUSINGE | Insurance companies must put in place feasible policies to manage fraud that could easily jeopardize their good performance. This is the summary of what Ibrahim Kaddunabbi …

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Hospitals face termination by insurance companies over fraud

Kampala, Uganda | THE INDEPENDENT | Several hospitals face termination from serving clients who have health insurance policies after insurance companies accused them of fraud. This comes after The Uganda Insurers Association (UIA)-commissioned a fraud survey in 2018/19 financial year that found wide-spread cheating with hospitals putting in fictitious claims. …

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IRA licenses 114 insurance players

Kampala, Uganda | THE INDEPENDENT | The Insurance Regulatory Authority has licenced 114 players to carryout insurance business this year. These includes 32 insurance companies; one Micro Insurance firm, one re-insurer, five Health Membership Organizations (HMOs), 35 insurance brokers, two re-insurance brokers and 24 Loss Assessors, adjusters, insureance surveyors and risk …

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Insurance Regulatory Authority opposes merger with BoU

Kampala, Uganda | THE INDEPENDENT | The Chief Executive Officer of the Insurance Regulatory Authority has vehemently opposed government proposal to merge it with Bank of Uganda. Ibrahim Lubega Kaddunabbi says while the idea of rationalizing government agencies is not bad, the method was wrong citing lack of consultation as an …

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Eight banks cleared by IRA to sell insurance policies

Kampala, Uganda | JULIUS BUSINGE | The Insurance Regulatory Authority (IRA) has so far issued eight certificates to banks to offer bancassurance (selling insurance policies) to their clients as one way of boosting the sector’s growth. Speaking at a press conference in Kampala on Feb.08, IRA officials including the Chief Executive …

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Slow insurance growth in Uganda

Slow insurance growth, but Industry executives expect business to pick up Kampala, Uganda| Isaac Khisa| Uganda insurers recorded a 3.6% growth in premiums in 2016, their slowest growth rate in five years, citing harsh economic environment, slow implementation of infrastructural projects and reduced private sector credit. Full year industry performance …

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