The Insurance Regulatory Authority of Uganda issued supervisory guidance on binder agreements, clarifying how it will treat requests to use binder arrangements for classes of insurance business not covered by its July 2020 circular on eligibility criteria for binder agreements between insurers and insurance brokers. Where a requested class is not included in the 2020 list of permitted classes and subclasses, the Authority will consider approval on a case-by-case basis. Decisions will depend on the broker demonstrating technical competence and the insurer providing evidence that prior engagement with the broker has contributed to reduced management expenses.
Uganda Insurance Regulatory Authority 2025-12-04
Insurance Regulatory Authority of Uganda sets case-by-case criteria for binder agreements outside its approved insurance classes
The Insurance Regulatory Authority of Uganda issued guidance on binder agreements, addressing requests for classes not covered by its July 2020 circular. Approval will be considered case-by-case, contingent on broker competence and evidence of reduced management expenses from prior insurer-broker engagements.