The Minister of Works and Transport, Gen. Edward Katumba Wamala, has called on government departments to take the lead in insuring their assets, citing the benefits of risk reduction and increased insurance penetration in Uganda.
Speaking at the 14th Insurance Agents Awards, Wamala emphasized the importance of insurance as a national social safety net and expressed concern over the country’s low insurance penetration rate of 0.8%.
The minister highlighted the need for increased insurance coverage in the transport sector, particularly among bodaboda riders, who are often involved in road accidents.
He appealed to insurers to educate bodaboda riders on the importance of third-party insurance, noting that they play a significant role in the transportation industry.
Wamala also emphasized the importance of reviewing the Motor Vehicle Insurance (Third Party Risks) Act to ensure that medical facilities prioritize treating accident victims over seeking payment.
He suggested that the “no-fault approach” to insurance claims should be revised to exclude drivers without licenses.
The minister stressed that the establishment of a National Health Insurance Scheme would be a game-changer for the insurance industry, providing social protection and a reliable healthcare financing mechanism.