Thursday, April 23, 2020

Insurance Companies Directed To Give Premium Payment Reliefs

    April 23, 2020   No comments

Insurance Regulatory Authority (IRA)

Insurance Regulatory Authority ( IRA) on Tuesday announced a directive that all regulated insurance companies will grant a premium payment  holiday for up to 3 months for policy holders affected by COVID-19 pandemic.

IRA described the Payment Relief as a directive to apply on both premiums payment and even premiums renewal.

The 3 months payment holiday should be added on top for policy holders with an existing relief previously approved.

Association of Kenya Insurers (AKI) declined handling claims as a result of Coronavirus soon after World Health Organisation (WHO) declared a pandemic.

IRA however had talks with health insurers in kenya and agreed to approve and fund claims arising from the pandemic.


Mwabaya Katana

About Mwabaya Katana

Mwabaya is an experienced and talented finance content creator based in Kenya. He is the Founder of Loans Kenya Blog.

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