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.


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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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