Insurance body calls for law amendment
Mar 11, 2009
THE government should amend the insurance law to allow financial institutions act as insurance agents, Evelyn Nkalubo, the acting commissioner of the Uganda Insurance Commission, has said.
By Alice Kiingi
THE government should amend the insurance law to allow financial institutions act as insurance agents, Evelyn Nkalubo, the acting commissioner of the Uganda Insurance Commission, has said.
“In order to speed up the growth of micro-insurance, there is need to develop laws to enable financial institutions act as agents,†Nkalubo said.
She said the Uganda Insurance Act (Cap 213) Law 2000 bars firms governed under the Financial Institutions Act to act as insurance agents.
She also called for the review of insurance pricing to make it affordable to persons in the informal sector.
“These people do not have access to commercial insurance,†she said.
THE government should amend the insurance law to allow financial institutions act as insurance agents, Evelyn Nkalubo, the acting commissioner of the Uganda Insurance Commission, has said.
“In order to speed up the growth of micro-insurance, there is need to develop laws to enable financial institutions act as agents,†Nkalubo said.
She said the Uganda Insurance Act (Cap 213) Law 2000 bars firms governed under the Financial Institutions Act to act as insurance agents.
She also called for the review of insurance pricing to make it affordable to persons in the informal sector.
“These people do not have access to commercial insurance,†she said.