Britam Insurance Company (Uganda) Limited on Monday this week unveiled a first of its kind product “Windows Glass Cover” (WGC).
This product is an extension of its already existing motor third party insurance cover thus creating an all-around car insurance policy.
According to Edward Nambaffu the General Manager Britam Insurance Company, the product came as part of the company’s customer focus and innovations which are some of their major values that drive their mission of “Providing you with financial security EVERY STEP OF THE WAY.”
Indeed, Nambaffu said their product development team had reviewed their Motor Third Party Liability (MTPL) policy, one of the only two statutory compulsory insurance covers, with a view to how they can improve it and make it more responsive to the needs of motorists in Uganda.
Nambaffu said currently, under Ugandan laws, Motor Third Party Liability provides for a maximum liability limit of Shs1 million per person per accident and/or a maximum of Shs10 million shillings per accident.
This he says at times does not provide for adequate compensation in cases of accidents where the different glasses are broken or damaged.
“It is also a fact that many motorists are not in a position to regularly afford comprehensive motor insurance,” said Nambaffu.
The General Manager said, under the Uganda Insurers’ Association, they are pushing for the review of the Third Party Act to ensure that the liability minimum threshold is lifted to Ush10million and maximum to Ush100 million.
Humphrey Lutakome the Britam Insurance Marketing Manager added that the cover will cease to run unless renewed when one is compensated for any replaced or repaired windscreen, door glasses or rear view mirrors.
“Customers will add Ush60000 to the Third Party Policy provided and it will run for one year. However, when any of the damaged glass is replaced or repaired, the cover will cease unless renewed,” stressed Lutakome.
Richard Mwebesa the Britam Business Development Manager said to bridge this gap, especially between Motor Third Party and compréhensive cover, their team came up with a Windscreen & Door Glass Cover Policy.
He stressed that this policy is not a standalone policy, but rather, is an extension of their existing Motor Third Party and the two shall be bought together.
BY PAUL TENTENA