Ministry urges TIRA: Aim for 50 percent insurance coverage 

20Nov 2020
By Guardian Reporter
Dar es Slaam
The Guardian
 Ministry urges TIRA: Aim for 50 percent insurance coverage 

​​​​​​​THE government has tasked the Tanzania Insurance Regulatory Authority (TIRA) to make sure 50 per cent of the Tanzanians are enrolled with insurance services by 2030.

Assistant director of planning in the Ministry of Finance and Planning, Theresia Henjewele.

Currently, only 15 percent of the population benefit from insurance services.

Assistant director of planning in the Ministry of Finance and Planning, Theresia Henjewele made the remarks when addressing delegates during the 5th conference of TIRA workers’ council in Dar es Slaam yesterday. Henjewele who represented the ministry’s Permanent Secretary, Dotto James urged the regulator to ensure an increase of income generated from life insurance from 0.1 per cent to 0.3 perc ent and other types of insurance from 0.4 percent to 2 percent by the year 2030.

She said since most Tanzanians depend on agricultural activities and small businesses, it is high time that TIRA puts efforts in reaching and enrolling farmers with insurance services. The government’s target by 2030 is to make sure that 10 percent of the income generated from the insurance sector comes from the agriculture sector. The move will also boost the sector’s contribution in the national income.

“You must thrive to increase the sectors’ contribution to the national income from the current 0.53 percent to 3 percent in 2030. Increased contribution of the sector in the national income would also bring positive results in value addition for agricultural crops, forest, livestock and fisheries sub-sectors”, she noted calling upon TIRA to fast track provision of insurance education to the rural population.

According to Henjewele the government has been insisting on agricultural crops being covered by insurance services because there are many risks that farmers are likely to encounter in the crops value chain. Read More...https://epaper.ippmedia.com

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