HIGHLY ANTICIPATED HIT-AND-RUN FUND DUE EARLY NEXT YEAR – TIRA
A time frame for the establishment of the highly anticipated special fund to cover victims of hit-and-run incidents has finally been set. The Tanzania Insurance Regulatory Authority (TIRA) has informed that the fund shall be up and running by early next year.
In an interview the TIRA Director of Law Paul Ngwembe said the policy is to be completed by the end of this year ahead of early next year’s establishment of the fund. The fund is to be financed by the government in collaboration with several insurance firms.
INSURANCE OMBUDSMAN TO BE APPOINTED SOON
Tanzania Insurance Regulatory Authority (TIRA) is to appoint the Insurance Ombudsman soon to resolve disputes between insurance firms and insured. The new system is expected to relieve accident victims and insurance firms’ clients of the trouble that they face when battling it out through the court systems in the event of ambiguous claims.
The goal is to ease and shorten the claim compensation process. In the event that the victims are not satisfied with the Ombudsman’s decision they can still pursue the case in an Appeal Court.