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Plot5,Kyadondo Road, Nakasero. Legacy Towers, Block B, 2nd Floor.
Kampala 22855 - Uganda
Telephone: 0312-266364/ 0414-346712 / 041-4253564
Fax: 256 414 349260

IRA gets new members of the Board.

The Insurance Regulatory Authority (IRA) has set guidelines for licensing of bancassurance agents and bancassurance activities, in a bid to better serve and protect consumers.

Under the guidelines issued this week, any Financial Institution that seeks to conduct bancassurance business shall apply for a license from the IRA under the Insurance (Bancassurance) Regulations, 2017. The applicants shall be required to submit a resolution of the governing body of the financial institution and a letter of no objection issued by the Bank of Uganda.

The bancassurance agency is also required to secure an agreement with insurers they will be dealing with. A minimum of three non-life insurers and two life insurers shall be required.  In addition the bancassurance agent may develop or package insurance services with the insurer specified in the agency agreement.

Complaints Bureau
About the Bureau
The Authority set up a Complaints Bureau in 1998 as per Section 15(f) of the Insurance Act to handle complaits against Insurance players. The public is urged to always lodge complaints with the Bureau for prompt settlement to complaints and avoidance of lengthy and costly Court cases
For complaints / Suggestions
Your Name:
Your Email :
Phone Number :
Insurer / operator :
Your Complaint:

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