Statewide Insurance Company (SWICO) has awarded a client whose truck was damaged in an accident Shs 355 million in compensation claims.
"One of our clients Mr. Abbas Balinda of Fort Portal recently received a payment of Shs 355,975,021. Mr. Balinda comprehensively insured his truck that was involved in an accident and hence filed a claim with us. His claim was swiftly processed and paid in no time much to his delight.
Balinda encouraged the members of his community to work with SWICO and appreciate the benefits of insurance for personal and business use.
Formal uptake of insurance among adult Ugandans is incredibly low. In Uganda however, most people seem to be comfortable without formal insurance, with only about 1 in every 100 Ugandans reporting having formal insurance cover risks faced to their health, business and life.
