The Insurance Regulatory Authority of Uganda has issued a circular directing all non-life insurers to carry out proper pre-insurance risk inspections and surveys before accepting cover. The requirement is intended to verify the existence and condition of insurable risks and support accurate valuation and underwriting before policy issuance. It follows the authority’s observation that some insurers are onboarding risks without adequate pre-risk assessment or appropriate pricing, a practice it links to increased fraudulent and disputed claims reflected in complaint bureau statistics. Insurers must ensure the outcomes of inspections and surveys are properly documented and included in underwriting records for the relevant risks. The circular takes immediate effect and requires full compliance.
Uganda Insurance Regulatory Authority 2026-05-07
Insurance Regulatory Authority of Uganda directs non life insurers to conduct and document pre insurance risk surveys with immediate effect
The Insurance Regulatory Authority of Uganda has directed all non-life insurers to conduct proper pre-insurance risk inspections and surveys before accepting cover, to verify the existence and condition of insurable risks and support accurate valuation and underwriting. The move follows observations that some insurers have been onboarding risks without adequate pre-risk assessment or appropriate pricing, contributing to increased fraudulent and disputed claims, and requires that inspection outcomes be documented in underwriting records.