License to operate health insurance and Health membership organisations (HMO)

Regulatory

1. License requirements. Fill an application form with the following information:
  • The name of the applicant.
  • Postal address of the Head office.
  • Telephone numbers, fax number, email.
  • Physical address.
  • Share capital (i) Authorized and (ii)Paid-up capital.
  • Name and address of auditors.
  • Insurance business intended to be transacted for.
  • Names and address of Bankers.
  • External auditors.
  • Names, nationality and address of the directors of the applicant.
  • If any of the directors has been convicted of any offence involving fraud or dishonesty, he/she should give full details.
2. In addition, the applicant should submit:
  • A copy of the Professional Indemnity Insurance Policy cover to protect the business interests against claims for error or omissions, professional neglect for both principals and employees, of at least Ushs.100 million   for the said staff.
  • Details of the company Accountant who should be recognized as such   by ICPAU and approved IRA.
  • A certified true copy of the articles and memorandum  of association (other document by which the Health Membership Organisation (HMO)) is consituted - Uganda Registration Services Bureau.
  • Annual accounts within three months from the end of the financial year duly audited by an Auditor approved by the IRA.
  • Management Accounts within a month from the end of each quarter.
  • Detailed and signed curriculum vitae of all directors and the Chief Executive Officer.
  • Names, nationality and shareholding of shareholders.
  • Detailed signed curriculum vitae of the management and technical staff.
  • List of all branch offices, address and telephone numbers.
  • Copies of valid work permits for all expatriate staff.
  • Listing of Service Providers (affiliates) who have signed contracts with the HMO.
  • List of all agents employed.
  • Company Business Plan for three (3) to five (5) years duly endorsed by an external auditor.
  • A certified true copy of each type of policy of insurance / contact which the Company proposes to issue.
  • Copy of the various benefit packages to be offered to prospective members and the Premium thereof.
  • Copy of the registration certificate for the Medical Director or the person in charge of health services issued by the Uganda Medical and Dentist Practitioners` Council for the professionals.
  • Evidence of membership to the Insurance Institute of Uganda.Copy of the latest insurance license (if any).
  • Such other documents and information as the Authority may require.
  • Fill the personal fit and proper questionnaire.
  • All licensed players are required to pay Annual contribution as will be advised by the IRA.
  • All licensed players are required to pay a training levy of 0.5% payable quarterly to the Insurance Institute of Uganda.
  • Phone: +256 312-266364, +256 414346712, +256 414253564
  • Physical Address: Plot5,Kyadondo Road, Nakasero. Legacy Towers, Block B, 2nd Floor
  • Postal Address: P.O.Box 22855 Kampala, Uganda
  • Jurisdiction: National
  • Email Address: ira@ira.go.ug
  • Website: http://www.ira.go.ug
  • Operating Hours: Moday to Friday, 8:00am-5:00pm (excluding weekends and public holidays)
  • Directions: View Directions