By Eronie Kamukama
Kampala — As government moves towards the production phase of oil from the Albertine region, insurance companies in Uganda have announced that they will jointly cover risks in the oil and gas sector.
Addressing journalists at Kampala Serena Hotel on Wednesday, the chairman of the oil and gas sector at the Uganda Insurers Association (UIA), Mr Azim Tharani, said the risks associated with the sector are enormous.
The consortium will enable the insurance service providers to handle oil and gas risks within Uganda.
“There are complex and difficult risks that require huge amounts of money and therefore as an association, we felt that it was better for us to combine our capacities,” Mr Tharani said.