Uganda - Obtain a Health membership organization Licence

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Procedure

1. The applicant proposing to carry on business as a health membership organization/health insurance shall apply to the Authority, in a prescribed form, for a Licence (HMO) .
2. Fill an application form application form with the following information.
   • Share capital (i) Authorized and (ii) Paid-up capital.
3. Gather all the required documents and attach them to the application before submission the following document are required:
   • 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.
4. Attach all the above required documents copies and submit the filled form to the INSURANCE REGULATORY AUTHORITY OF UGANDA official who will verify and process your application.
5. The application form should be completed in duplicate by the applicant and should be submitted directly to the insurance regulatory Authority.
6. If all the information are in order, you will be issued with the Personal Questionnaire question booklet to test the fitness and properness of Directors, and other significant Shareholders.
7. Where an application under this setup does not provide all the relevant information in the questionnaire or if clarification is necessary, the applicant may be called upon to provide the information or clarification to complete the application.
8. The Authority shall, within four months after receipt of a complete application, investigate through questionnaire and prepare a detailed report in respect of status of the application.
9. The Authority shall, for the purpose of considering and making a report on an application, appoint a committee of not less than three members of the Authority which committee shall report its recommendations to the Authority in writing.
10. The Authority may—
    • if it is satisfied that the applicant complies with the provisions of insurance Act and fulfilled all the requirements grant a licence to the applicant, after payment of the prescribed fee; OR
    • refuse to grant a Licence and give reasons in writing for its decision.

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Required Documents

• Documentary Proof of membership of Uganda insurance institute of Uganda (copy of membership certificate).
• Professional indemnity insurance policy cover of at least 100,000,000 one hundred million.
• Audited accounts returns for the recent time.
• Proof of payment of all obligations to insurance regulatory Authority of Uganda i.e fines, interest by the time of submitting your application for a Licence.
• Proof of payment of paid up capital of 500,000,000 five hundred millions.
• Attach proof of deposit annual contribution for year ending.
• Avail a copy of the company annual returns duly registered with the registrations service bureau.
• Submit the management accounts endorsed with the external Auditor.
• Name and address of the applicant consulting qualified actuary.
• Financial statements and regulatory returns and reports for HMO.
• In the case of foreign applicant, you will avail the immigrant status of all your non Ugandan employees. i.e photocopy and originals work permit.
• List of insurance agents whom the applicant will intend to work with and they should indicate all submit completed application online together with the Licence fee of 100,000/= per agent.

They should also include the following:

1. Agency agreement duly signed by the applicant and the principal officer of the company.
2. Recent passport size photograph of the applicant
3. Duly up to date signed and dated curriculum vitae.
4. Evidence of membership to the insurance institute of Uganda.
5. Certificate of proficiency.
6. Clearance letter from the insurance institute of Uganda that they are committed to sit for CoP.
7. All applications should be accompanied by the applicable Licence fee.

Office Locations & Contacts

The Insurance Regulatory Authority Of Uganda - Head Office,
Insurance Towers Plot 6,
Lumumba Avenue
Kampala Uganda
P.O Box 22855
Kampala Uganda
Tel: +256 417-425500
Email: [email protected]
WebsiteL Link

Eligibility

Any twenty five persons of 18 years and above but not more than three hundred may, subscribe their names to a memorandum of association, form a mutual insurer and are eligible to apply for License to operate health insurance and Health membership organizations (HMO)

Fees

• A Nonrefundable application fees of 3,000,000
• Application Fees:
• 500,000 Ugsh - Registration
• Renewal Fee: 3,000,000 Ugsh.

Validity

Valid for 1 year (The 31st day of December of the year in which it is issued)

Documents to Use

Please attach documents that can be used by people. e.g. links

Sample Documents

• application Form

Processing Time

Processing takes 4 months Maximum Processing Time: 4 months.

Related Videos

Videos explaining the procedure or to fill the applications. 
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites. 	
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver, 
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

1. A person shall not carry on, or purport to carry on, insurance business, reinsurance business or the business of a HMO in Uganda without a valid Licence issued by the Authority.
2. A foreign insurer shall not occupy or operate an office in Uganda without the prior written approval of the Authority
3. The security deposit of an insurer or HMO shall be applied in the following priority—
   • to pay insurance claims;
   • to satisfy the costs of, or associated with any remedial measures or enforcement powers exercised by the Authority in relation to the insurer, or the running-off and winding up of the business of the insurer or the liquidation of the insurer;
   • in the event that the insurer is liquidated, to pay to the liquidator of the insurer for the purposes of the winding up.

Required Information

• Full names of the applicant
• Marital status of the applicant
• Level of education and certificate awarded
• Fluent language speaking capability
• Nationality (if applicable)
• Signature of the applicant
• the financial status and antecedents of the applicant.
• the competence and integrity of the proposed management and administration;
• the adequacy of the applicant’s capital structure, earning prospects, business plans, financial plans, reinsurance and retention proposals;
• Whether the public interest would be served by granting a Licence;
• the governance framework of the applicant;
• proposed reinsurance and retrocession arrangements;
• such other matters as the Authority may consider appropriate.

Need for the Document

Please provide the need for the procedure. e.g. Birth Certificate - why do we need to have a birth certificate? 
 

Information which might help

• A financial institution enters into a group or master insurance contract, as policy holder, with the intention that the customers of the financial institution, or a class of them, obtain insurance cover under the contract.
• An insurance contract entered into by a financial institution as a policy holder where the sole purpose of the policy is to provide benefits to employees of the financial institution, whether or not the employees are required to contribute towards the cost of the contract shall not be taken as bancassurance.

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

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Others

More information which might help people.