IRA Urges Public To Take Up Insurance to Mitigate Risk

The Insurance Regulatory Authority of Uganda (IRA) has urged the public to embrace insurance to protect their businesses, health and life when disaster strikes.

Speaking at a media briefing at Igongo Country Hotel & Cultural Centre, Mbarara city, the IRA Chief Executive Officer Alhaj Kaddunabbi Ibrahim Lubega noted that while insurance remains an important service that is critical for medium to long-term success of individuals, households and businesses, awareness deficiencies continue to keep many out of the consumption loop of this important service.

He asked the media to sensitize the public about the value of insurance through report insurance related articles to reduce the existing information gap and empower the public to make more informed decisions as far as risk management is concerned.

According to IRA, through those platforms, the public will be educated about various topics such as Workers Compensation, Medical Insurance, Life Insurance, Motor Insurance, Agriculture Insurance, the Insurance claim process and the rights and obligations of insurers and insuring public under insurance contracts.

Bonny Okello the IRA regional head said that through insurance one is able to survive many disasters which would put his life, business and health to danger.