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02 Mar 2020

ACHOLI SUB REGION HEAD TEACHERS, MASSES TIPPED ON INSURANCE

Head teachers in the Acholi Sub-region which comprises of Pader, Gulu, Amoro, Omuru, Nwoya, Kitgum, Agago and Lamwo were challenged to find every reason for having their schools insured against a number of risks. According to the Insurance Regulatory Authority of Uganda (IRA) which organized and facilitated the engagement with these head teachers, schools are among the most vulnerable investments to a number of risks which include but not limited to fire and accidents.

Sande Protazio, Director Planning, Research and Market Development at IRA said so many fire outbreaks in schools have been recorded in the recent past with a lot of valuables being damaged. The painful pinch is always felt by private schools who invest a lot of resources in these schools and for those who have not appreciated insurance, the aftermath is devastating. It is against this background that he encouraged school owners to make insurance a priority.

“Take time and engage insurance companies, they are in better position to guide you on which insurance policy suits your needs”, he said, adding that insurance for Schools, including infrastructure, Students and staff, can make one’s school stand out in this competitive market since such insurance will greatly enhance the value proposition.

Alhaj Kaddunabbi Ibrahim Lubega, the Chief Executive Officer of the Authority encouraged head teachers to take on insurance and in case of any challenges, they should never hesitate to contact the Regulator through the established Complaints Bureau.

“Don’t sit back and think your problems with an insurer cannot be handled. It is the reason why IRA exists; to protect you the policyholder from being exploited by any insurance player”, he said.

The IRA CEO was however concerned that most of the government schools have left out insurance in their budgets and this presents a very big risk.

Head teachers were encouraged to take up other insurance policies such as medical insurance for their staff and students, and to also encourage parents to make insurance a priority for their children, just like they have made education.

This engagement is among a number of awareness programs that IRA carries out in different regions of the country. The awareness campaigns are also enhanced with roadshows which address masses in the selected region on the need for insurance. The Authority has scheduled the Western region for the next awareness campaign.