Insurers set minimum fees
Apr 12, 2010
THE insurance sector has set minimum premium fees to be charged on policies by all firms. Latima Mukasa, the Uganda Association of Insurance Brokers’ chairperson, said the fees would be effective next month.
By David Ssempijja
and Paul Tentena
THE insurance sector has set minimum premium fees to be charged on policies by all firms. Latima Mukasa, the Uganda Association of Insurance Brokers’ chairperson, said the fees would be effective next month.
“Different insurance companies are charging varying premiums on the same policies, the association found it necessary to set the rates and avoid confusion in the industry,†Mukasa explained 2009 Best Insurer award ceremony at the association offices in Kololo recently.
United Assurance Company, commonly known as UAP, scooped the 2009 crown for the second year running. The firm also won the accolade in 2008.
Chartis, formerly American Insurance Group, came second, while Jubilee Insurance was third. Mukasa said the insurance industry grew by sh38b in 2008, while insurance brokers grew by sh2b.
He added that the commission income grew by 41% in 2008.Irene Nkalubo Muwemba the acting commissioner brokerage services urged the commission brokers to work towards the East African Community.
and Paul Tentena
THE insurance sector has set minimum premium fees to be charged on policies by all firms. Latima Mukasa, the Uganda Association of Insurance Brokers’ chairperson, said the fees would be effective next month.
“Different insurance companies are charging varying premiums on the same policies, the association found it necessary to set the rates and avoid confusion in the industry,†Mukasa explained 2009 Best Insurer award ceremony at the association offices in Kololo recently.
United Assurance Company, commonly known as UAP, scooped the 2009 crown for the second year running. The firm also won the accolade in 2008.
Chartis, formerly American Insurance Group, came second, while Jubilee Insurance was third. Mukasa said the insurance industry grew by sh38b in 2008, while insurance brokers grew by sh2b.
He added that the commission income grew by 41% in 2008.Irene Nkalubo Muwemba the acting commissioner brokerage services urged the commission brokers to work towards the East African Community.