It is a document evidencing the existence of an insurance contract. The policy contains terms and conditions of the contract. It is important to obtain, read and understand your insurance policy.
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WHAT IS INSURANCE?
Insurance is a mechanism through which a person transfers a risk (s) to a professional risk carrier in this case, an insurance company at a consideration called premium. The insurance company in return promises to compensate the policyholder/insured when a loss occurs.
WHO IS IRA?
The Insurance Regulatory Authority (IRA) is a Government agency responsible for the regulation and supervision of the insurance industry in Uganda. IRA does not sell insurance products.
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