Minister Calls for Armed Forces Insurance Packages at International Insurance Conference

Participants of ITC conference 2023 take to the streets of Mbarara City for an insurance awareness walk, directly delivering the message about insurance in the region. PHOTO/URN

Mbarara City | THE BLACK EXAMINER | During the 4th Annual International Insurance Conference held at Hotel Las Vegas in Mbarara City, the Minister of Animal Industry, Bright Rwamirama, urged insurance companies to introduce special packages for the armed forces. The two-day conference, organized by the Insurance Training College and attended by over 27 insurance companies from across Africa, focused on the theme of “Environment Social Governance and Sustainability Trends for Today’s Organizations.”

As the chief guest at the conference, Rwamirama emphasized the need for insurance to consider the armed forces, who often face significant challenges during and after their service. He pointed out that many soldiers become disabled during conflicts, and life can become challenging for them and their families upon retirement. He suggested that insurance could play a crucial role in providing support for both injury and disability.

Rwamirama also highlighted the importance of environmental sustainability and called on insurance companies to promote smart agriculture. This approach involves addressing environmental concerns and mitigating risks for farmers. He encouraged insurance companies to include agriculture insurance in their offerings to assess the impact of adverse weather conditions and climate change on agricultural production, which is vital for feeding the growing global population.

AlHajji Ibrahim Kanudabi Lubega, the Chief Executive Officer of the Insurance Regulatory Authority of Uganda, acknowledged the government’s subsidy for agriculture insurance but noted that it often runs out in a single season, despite two seasons being involved. He pledged to collaborate with the government and the Ministry of Finance to enhance this subsidy, especially in the context of the parish development model, which will increase the adoption of agriculture insurance.

Saul Sseremba, the Chief Executive Officer of Insurance Training College, emphasized the need for the Ugandan insurance industry to strategically incorporate environmental, social, and governance concepts to address the challenges posed by climate change.

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