Head teachers in the Acholi Sub region which comprises of Pader, Gulu, Amuru, Omoro, Nwoya, Kitgmu, Agago and Lamwo were challenged to find every reason for having, especially their schools insured against a number of uncertainties.
According to the Insurance Regulatory Authority of Uganda (IRA) which organized and facilitated the engagement with these head teachers, schools are among the most vulnerable investments to a number of risks which include but not limited to fire and accidents.
Sande Protazio, the Director Planning Research and Market Development at IRA said so many fire outbreaks in schools have been recorded in the recent past with a lot of valuables being damaged.
The painful pinch is always felt by private schools who invest a lot of resources in these schools and for those who have not appreciated insurance, the aftermath effects are devastating. It is against this background that he encouraged school owners to make insurance a priority.
“Take time and engage insurance companies, they are in better position of guiding you on which insurance policy suites your needs”, he said, adding that insurance for students can make one’s school stand out in this competitive market since not everyone has embraced.
These head teachers were also encouraged to know that insurers always meet their promises of compensating losses as long as the circumstances under which the loss occurred are within the agreed terms and conditions.
Alhaj Kaddunabbi Lubega, the Chief Executive Officer of the Authority encouraged head teachers to take on insurance and in case of any challenges, they should never hesitate to contact the insurance regulator through the established Complaints Bureau.
“Don’t sit back and think your problems with an insurer cannot be handled. It is the reason why IRA exists; to protect you the policyholder from being exploited by malicious insurers”, he said.
The IRA CEO was however concerned that most of the government schools have left out insurance in their budgets and this presents a bigger risk than it is already.
Head teachers were also encouraged to take up other insurance polies like medical insurance for their staff and students, and to also encourage parents to make insurance a priority for their children, just like they have made education.
This engagement is among a number of awareness programs that IRA is always carrying out in different regions of the country. The awareness campaigns are also enhanced with roadshows which address masses in the selected region on the need for insurance. The Authority has considered western region to be the next place for holding the awareness campaigns.