Government advocates public assets’ insurance

The Ugandan government does not insure the majority of State properties. Experts believe that this practice has triggered nearly 70 billion UGX (26.5 million USD) of lost earnings. Insurers rely only on an instable private sector to develop their portfolios. Insurance penetration rate does not exceed 0.6% of GDP.

On the initiative of the Uganda Association of Insurance Brokers (UAIB), the government has launched a program promoting State property insurance, with most exposed risks benefiting first from this measure.