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.
â€œIn order to speed up the growth of micro-insurance, there is need to develop laws to enable financial institutions act as agents,â€ 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.
â€œThese people do not have access to commercial insurance,â€ she said.
Insurance body calls for law amendment