2. Uganda Investment Authority Women Entrepreneurs Network HOTEL AFRICANA, KAMPALA Thursday, March 16, 2006

3. Insurance& Risk Management

4. How do you CHOOSE your Insurer?

5. Criteria for an Insurer 1. F inancial Strength 2. M anagement Quality 3. C laims Settlement Attitude 4. R einsurance Only Then – Price/Premium

6. Risk Probability of Occurrence of an Event leading to: Loss or Disability of Life Loss or Disability of Life Loss of or Damage to Property Loss of or Damage to Property

7. Risk Categories Speculative Risk Speculative Risk Pure Risk Pure Risk

8. Speculative Risk Result = Loss or Profit Result = Loss or Profit Examples: Examples: Buying Shares Buying Shares Lending Money Lending Money Banking Money Banking Money Others Others

9. Pure Risk Result = Loss (Never Profit) Result = Loss (Never Profit) Examples: Examples: Fire Fire Motor Accident Motor Accident Liability Liability Others Others

10. Risk Management Identify Identify Control Control Transfer (Insurance) Transfer (Insurance)

11. Insurance  A FIXED & KNOWN COST (LOSS) IS INCURRED TODAY BY PAYING PREMIUM”  THE ADVERSE EFFECT OF A FUTURE PROBABLE (UNCERTAIN) LOSS IS MINIMISED

12. Insurance Industry Uganda Government – Insurance Act 1992 Uganda Government – Insurance Act 1992 Customers Customers Insurance Companies Insurance Companies Agents & Brokers Agents & Brokers Loss Adjusters, Investigators & Assessors Loss Adjusters, Investigators & Assessors

13. Uganda Insurance Market Size

14. INSURANCE FOR UGANDA BUSINESS WOMEN

15. Uganda Insurance Industry Troubled History Currency Depreciation Currency Depreciation Mistrust Mistrust Misconception – Customers Vs Insurers Misconception – Customers Vs Insurers Low Skills Low Skills Inaccuracy of Values Inaccuracy of Values Negative Claims Settlement Attitude Negative Claims Settlement Attitude Insufficient Law – Overseas Insurance Insufficient Law – Overseas Insurance

16. MOTOR Comprehensive Third Party Liability

17. DWELLING HOUSE Householders House Owners Personal Liability

18. FIRE Fire Explosion & Lightning Earthquake incl. Tsunami Flood Malicious Damage Strikes & Riots Business Interruption

19. WORK ACCIDENTS Workers Compensation Employers Liability

20. ACCIDENT & HEALTH Individual Accident Group Accident Family Accident Children Accident Hospital Cash MFI Protection

21. TRAVEL Leisure Travel Business Travel Family Travel Education Travel

22. TRANSPORT Marine Cargo Air Cargo Inland Cargo Transport Delay Hull & Liability

23. CRIME Burglary Money / Cash-in-Transit Employee Fraud Computer Fraud Bankers Blanket Bond Arson

24. LIABILITY Public Liability Product Liability Professional Liability Management (Directors & Officers) Pension Trustees Liability

25. ENGINEERING Machinery Breakdown Business Interruption Electronic Breakdown Data Reconstruction Stock Deterioration

26. PROJECTS Construction Risks Machinery Assembly Project Delay Construction Plant

27. CRISIS Terrorism Sabotage Kidnap & Ransom Product Contamination

28. Thank You Partnership