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Mbarara, Uganda | THE INDEPENDENT | The Minister of Animal Industry Bright Rwamirama has asked Insurance companies to introduce special packages for the armed forces.
Rwamirama made the call on Friday during the 4th Annual International Insurance Conference held at Hotel Las Vegas in Mbarara City. The two-day conference has attracted over 27 insurance companies from across Africa and is organized by the Insurance Training College.
The conference was held under the theme Environment Social Governance and sustainability trend for today’s organizations.
Rwamirama who was the chief guest at the conference said that insurance never looks at armed forces who face a lot of challenges during and after service.
He said that many soldiers get disabled in wars while others after retiring life becomes hard for them and their families. He suggested that it is an area that insurance can also be relevant.
He said that the insurance companies need everyone to combine efforts for the environment to sustain noting that this can be achieved through smart agriculture which is taking care of environmental concerns and also minimizing shocks for farmers.
He further asked the insurance companies to put agriculture insurance on their platforms to view failed weather conditions and climate change effects on agriculture to sustainably produce for the increasing population in the world.
AlHajji Ibrahim Kanudabi Lubega, the Chief Executive Officer, of the Insurance Regulatory Authority of Uganda, said the government provides a subsidy on agriculture insurance which always exhausts in one season yet there are two seasons.
He said the authority is going to work with the government, and Ministry of finance to ensure that they enhance the government subsidy on agriculture insurance.
He said that the government’s policy to subsidize agriculture insurance is important as it rolls out the parish development model noting that the policy will enhance the uptake of agriculture insurance is more boosted.
Saul Sseremba, the Chief Executive Officer of Insurance Training College said to address the current trends of climate change, the insurance industry in Uganda needs to strategically incorporate the environmental social governance concepts.
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