By Our Reporter,
NATIONAL
Government through the ministry of Finance, Planning and Economic Development has set up a tribunal to settle disputes within the Insurance Sector.
The Insurance Appeals Tribunal, launched on Tuesday at Mestil Hotel Nsambya will among other functions serve as an independent body that will review decisions made by the Complaints Bureau of the Insurance Regulatory Authority.
The tribunal is a formation of the ministry of finance and the insurance regulatory body in Uganda known as the Insurance Regulatory Authority (IRA).
Speaking during the launch, Rita Namakiika Nangono, the tribunal chairperson said the tribunal will help to ensure that there are lawful, well reasoned and consistent regulatory and supervisory decisions within the industry.
“The Tribunal was established as part of the reforms under the amendment of the Insurance Act in 2017. As part of the general reforms related to complaint handling with the others being the Complaints Bureau and The Omudsman, the Tribunal will help solve insurance disputes which would have otherwise been subject to lengthy court processes. This will help build confidence and improve the image of the insurance sector,” she said.
In addition, the Tribunal will also review administrative decisions on the merits: that is, to consider afresh the facts and law relevant to a decision under review and decide whether that decision should be affirmed, varied or set aside.
“I am confident that the Tribunal will offer an independent, fair and high-quality review of administrative decisions for the good of the insurance industry and the country at large. The Members of the Tribunal are appointed by the Minister of Finance, Planning and Economic Development after a rigorous vetting process. There is no doubt in mind that they are going to do a splendid job in dispensing their duties,” Namakiika said.
Established under Section 137(1) of the Insurance Act 2017, Insurance Appeals Tribunal (IAT) will provide accessible and efficient alternative to individuals dissatisfied with the decision of the Insurance Regulatory Authority to appeal instead of going through the lengthy and costly court process as it has been.
“The Tribunal will provide an independent and impartial dispute resolution given the mandate that has been bestowed upon it by the law. The Appeals Tribunal will definitely go a long way to enhancing trust and confidence in the insurance complaints management mechanism. As a regulator, one of our core functions is policyholder protection. Among other things, we receive and give rulings on complaints. We are optimistic that with the Appeals Tribunal in place to provide a quality assurance check, the public’s confidence in the entire process will be enhanced,” he said.
Alhaje Kaddunabbi, also the hief Executive Officer of the Insurance Regulatory Authority of Uganda said the association to uphold, the reserve or revoke the decision of the IRA.
Alhaj Kaddunabbi who was representing Henry Musasiizi , the state minister of finance for general duties appreciated the increase in insurance penetration into Uganda.
He said government will ensure that the Tribunal is well-facilitated and staffed.
“The law has set timelines within which disputes must be settled. Since the Tribunal was set up in March, it has already been handled on appeal. I commend the members for the service,” he said.
The Head of the Commercial Division of the High Court, Justice Stephen Mubiru advised the members of the tribunal to be visible so that the public knows them.
“You should be able to inspire confidence by delivering sound decisions based on facts
