The Effectiveness Or Otherwise Of The Legal Regimes In Regulating The Insurance Sector Of Uganda; An Appraisal

TABLE OF CONTENTS

DECLARATION A ...................................................................................................... II

DECLARATION B .................................................................................................... III

APPROVAL .............................................................................................................. IV

DEDICATION ........................................................................................................... V

ACKNOWLEDGMENT ••••••••••••••••••••••••••••••••••••••••••••••••••••.•.•••••••..••••.••••..•.••..•..••••..•••••• VI

EXECUTIVE SUMMARY •••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••...••.•.•••.•..•••••....••.•••• VII

TABLE OF CONTENTS ••••••••••••••••••••••••••••••••••••.••••••••••••••••••••••••••••••••••••••••••••••••••••.• VIII

LIST OF ACRONYMS •.•••••••••••••••••••••••• , •••••••••••••••••.••••••.•••••..•••..•••.••••...•.•.....•••••.•••••••• X

CHAPTER ONE ................................................................................................... 1

INTRODUCTION ................................................................................................ 1

1.1 BACKGROUND OF THE STUDY .............................................................................. 1

1.2 STATE~1ENT OF THE PROBLEM ............................................................................. 3

1.3 GENERAL OBJECTIVE ........................................................................................ 4

1.4 RESEARCH OBJECTIVES ................... :· ................................................................. 4

1.5 RESEARCH QUESTIONS ...................................................................................... 4

1.6 RESEARCH HYPOTHESIS ..................................................................................... 5

1.7 SCOPEOFTHESTUDY ....................................................................................... 5

1.8 SIGNIFICANCE/ JUSTIFICATION OF THE STUDY ......................................................... 6

1.9 LIMITATIONS OF THE STUDY ............................................................................... 6

1.10 ORGANIZATION OF THE THESIS ............................................................................ 7

CHAPTER TWO .................................................................................................. 8

LITERATURE REVIEW ....................................................................................... 8

2.1 INTRODUCTION ••••.•••..•••.•••..•......•..••..••.••••••••••••••••••••••••••••••••••.•.••••••••..•..••....••• 8

2.2 CONCEPTUALIZATION OF INSURANCE ..................................................................... 8

2.3 SALIENT FEATURES OF INSURANCE ....................................................................... 9

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2.4 TYPES OF INSURANCE ...................................................................................... 15

2.5 WORLD'S BEST INSURANCE PRACTICES ................................................................. 20

2.6 WORST PERFORMING INSURANCE SECTORS ........................................................... 21

CHAPTER THREE •............................................................................................ 23

INSURANCE INDUSTRY OF UGANDA .............................................................. 23

3.1 INTRODUCTION .............................................................................................. 23

3.2 INSURANCE REGUlATORY AUTHORITY OF UGANDA ................................................... 23

3.3 GROwrH OF THE INDUSTRY ............................................................................... 25

3.4 ACHIEVEMENTS IN THE INSURANCE INDUSTRY OF UGANDA ......................................... 26

3.5 CHALLENGES IN THE INSURANCE SECTOR .............................................................. 26

CHAPTER FOUR ............................................................................................... 29

EFFECTIVENESS OF UGANDAN INSURANCE LAWS ........................................ 29

4.1 INTRODUCTION .............................................................................................. 29

4.2 THE INSURANCE ACT OF UGANDA ........................................................................ 29

4.3 MARINE INSURANCE ACT .................................................................................. 34

4.4 MOTOR VEHICLE THIRD PARTY RISKS ACT ............................................................ 35

4.5 CHAPTER CONCLUSION ..................................................................................... 37

CHAPTER FIVE ........•....................................................................................... 39

CONCLUSION AND RECOMMENDATIONS ....................................................... 39

5.1 INTRODUCTION .............................................................................................. 39

5.2 CONCLUSION ........................... ' ..................................................................... 39

5.3 RECOMMENDATIONS ........................................................................................ 39

5.4 AREAS FOR FURTHER STUDIES ............................................................................ 41

BIBLIOGRAPHY ............................................................................................... 42

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