Aa9eda6f3ba3413f4806f3345ae6a5d8ba35c0c1THE SIGNIFICANCE OF INSURANCE LAWS TO DEVELOPMENT IN UGANDA CASE STUDY KAMPALA DISTRICT

ABSTRACT

This research sought to investigate insurance industry and the significance of its laws and

regulations to development in Uganda. The objectives of the research were to review the

Insurance Regulatory Body and to come up with effective mechanisms that can be utilized by

Regulatory body and Authority of Uganda and other professional associations in monitoring and

supervising insurance industry. The researcher looked at literature review in the domain of the

industry and regulation. The review brought fouth various challenges such as the cock of an

efficient information sharing system, inadequate funding of IRA, insurer's rates under cutting

practices, weak financial basis among others. It was this recommended inter alia that the IRA,

impress the use of ICT in its monitoring and its supervisory work and insurers strengthen their

financial stability.

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