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Finance Minister, Dr Mwigulu Nchemba has urged the public especially administrators to keep records and documents among other key items for reference in time of compensation payment.
He was reacting to a question by Dr Oscar Kikoyo (Muleba South-CCM), who wanted to know when will the government amend the Insurance Act to set a minimum wage for compensation of road accidents victims.
Dr Nchemba told the National Assembly on Wednesday that in September 2022, the Tanzania Insurance Regulatory Authority (TIRA) issued guidelines on indicative compensation rates for claims of injuries and deaths of and third parties.
He said the guidelines are meant to have in place a compensation ratio on claims of road accidents victims.
Dr Nchemba said the guidelines have to a large extent taken care of the complaints on compensation payment ratio being disbursed by insurance companies.
“Despite the success attained from the dispensation of the guidelines, I would like to take this opportunity to call upon the public to keep records and documents for easy reference in time for payment to administrators” he said.
Moreover, he said, the government will keep on carrying awareness programmes for insurance stakeholders for more understanding of the Insurance Act.
