Leaders of various organizations and companies are being urged to prioritize the well-being of their employees by providing them with comprehensive health insurance coverage. Al-haj Ibrahim Kaddunabbi Lubega, the Chief Executive Officer of the Insurance Regulatory Authority of Uganda, emphasized the critical importance of ensuring that workers have access to adequate health insurance.
During a recent meeting at the Insurance Regulatory Authority, it was observed that many individuals still face challenges in obtaining insurance, particularly through banks, which often requires holding a bank account.
Recognizing the significance of safeguarding the lives of their staff, executives and leaders in the insurance industry have made a commitment to offer necessary health coverage to their employees.
Moreover, the Insurance Regulatory Authority of Uganda has set a deadline of October 1st for the implementation of mandatory insurance for marine-related goods, known as Marine Insurance. The responsibility now lies with leaders in the insurance sector to ensure the effective implementation of this insurance, which is expected to benefit both the nation’s economy and its people.
The Insurance Regulatory Authority of Uganda has been a hub of activity, with leaders and executives actively engaging in discussions regarding the implementation of new policies and regulations to enhance the functioning of the insurance industry. This comes in conjunction with the release of the Insurance sector’s quarter two performance report, which indicated a notable increase in the gross written premium collected through the brokerage distribution channel, rising from UShs 133.6 billion in Q1, 2023, to UShs 257.8 billion.