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Insurance Watchdog Faulted on Functions.
Byline: David Ssempijja
The Uganda Insurance Commission (UIC) has been accused of making no effort to close operational gaps that are affecting its regulatory role.
The commission was established by an Act of Parliament in 1996 to supervise and regulate the operations of the insurance industry.
It also licenses insurance companies, risk managers, loss assessors and adjusters, insurance surveyors and claims agents, as well as sensitising the public about the insurance sector.
However, the May 2008 report by Inspector Andrew Sewankambo, which New Vision has seen, noted that since its inception, the commission has completely de-linked itself from the …
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