By Alhaj Kaddunabbi Ibrahim Lubega Just like Motor Third Party Insurance is mandatory for all motorists driving on Ugandan roads, Workers’ Compensation insurance is also mandatory for all businesses operating in Uganda, irrespective of size. This is provided for under section 18 of the Workers Compensation Act, which provides for compensation to workers for injuries… Continue reading WHY ALL WORK-RELATED INJURIES MUST BE PAID FOR BY WORKERS COMPENSATION INSURANCE
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IRA RECEIVES GIANT SAVINGS BANK FROM UIA
The Insurance Regulatory Authority of Uganda (IRA) has today received the giant savings bank from the Uganda Insurers Association at a function held at the Insurance Tower in Kampala. The giant savings bank was received by the IRA Director in charge of Planning, Research and Market Development, Mr. Protazio Sande on behalf of the Chief… Continue reading IRA RECEIVES GIANT SAVINGS BANK FROM UIA
134 INSURANCE PLAYERS AUTHORDISED TO TRANSACT IN 2023
134 INSURANCE PLAYERS AUTHORDISED TO TRANSACT IN 2023 The Insurance Regulatory Authority of Uganda (IRA) has authorised a total of 134 industry players to conduct insurance business in 2023. The authorised insurance players include two (2) reinsurers, 20 non-life insurers, eight (8) life insurers, two (2) micro insures, two (2) Health Membership Organisations (HMOs), three… Continue reading 134 INSURANCE PLAYERS AUTHORDISED TO TRANSACT IN 2023
IRA LAUNCHES THIRD INSURANCE INDUSTRY INNOVATION AWARDS
The Insurance Regulatory Authority of Uganda (IRA) has launched the 2022 insurance Industry Innovation Awards. This is the third edition of the awards and it comes on the heels of the earlier two that were successfully held in 2020 and 2021, respectively. The awards will among others identify and reward innovations that are ensuring that… Continue reading IRA LAUNCHES THIRD INSURANCE INDUSTRY INNOVATION AWARDS
INSURANCE INDUSTRY GROWS FASTER IN THIRD QUARTER
Uganda’s insurance industry grew faster in the third quarter of 2022 than had been earlier projected. Figures released by the Insurance Regulatory Authority of Uganda (IRA) at a media briefing held at the Insurance Tower on November 21, indicate that the industry grew by 18.57% as at the end of September, surpassing the 15% growth… Continue reading INSURANCE INDUSTRY GROWS FASTER IN THIRD QUARTER
BUILD AFFORDABLE FINANCIAL SOLUTIONS TO BOOST SAVINGS – BOU
Financial services providers have been urged to build and extend affordable and user friendly green financial solutions to underserved and low-income Ugandans to encourage them to save with formal financial institutions to grow savings in the country. The appeal was made by the Bank of Uganda Deputy Governor Mr. Michael Atingi-Ego at a media briefing… Continue reading BUILD AFFORDABLE FINANCIAL SOLUTIONS TO BOOST SAVINGS – BOU
IRA PARTNERS WITH UBTS IN BLOOD DONATION DRIVE
The Insurance Regulatory Authority of Uganda (IRA) recently teamed up with the Uganda Blood Transfusion Services (UBTS) to mobilize blood amid its growing demand in hospitals across the country. Uganda Blood Transfusion Services (UBTS), is the body mandated to conduct blood donor recruitment and mobilization countrywide while IRA is the regulatory body for the insurance… Continue reading IRA PARTNERS WITH UBTS IN BLOOD DONATION DRIVE
IRA LAUNCHES SYSTEM TO EASE COMPLAINTS HANDLING
The Insurance Regulatory Authority of Uganda (IRA) has launched a Complaint Management System to efficiently track and address grievances between insurers and the insuring public. The online system enables the insuring public to lodge insurance-related complaints at their convenience, without necessarily having to travel to IRA offices as it has been under the manual system.… Continue reading IRA LAUNCHES SYSTEM TO EASE COMPLAINTS HANDLING
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INSURANCE INDUSTRY POSTS IMPRESSIVE FIRST HALF RESULTS
The Insurance industry remained on a positive growth trajectory over the first six months of the year, further demonstrating the sector’s resilience amid a contracting economy due to challenging macroeconomic fundamentals. Figures from the Insurance Regulatory Authority of Uganda (IRA) released on Thursday August 18, 2022 show that the industry’s gross underwritten premiums grew from… Continue reading INSURANCE INDUSTRY POSTS IMPRESSIVE FIRST HALF RESULTS