Insurance Regulatory Authority Stories
The proposed regulations aim to introduce strict rotation rules, capping the tenure of audit partners, managers and staff at four consecutive years, w...
The Federation of Public Transport Sector (FPTS) highlighted unethical practices by a few legal practitioners, including manipulation of service affid...
The findings suggest that cost and knowledge gaps remain significant hurdles to expanding insurance coverage across the surveyed nations and the regio...
According to the latest Insurance Regulatory Authority (IRA) report, total claims and policyholder benefits across general, long-term, and micro-insur...
In the first half of 2025 alone, the Insurance Fraud Investigation Unit (IFIU) received 85 reports of fraudulent claims, 45 of which involved motor in...
The deregistration was carried out in accordance with Section 196(A) of the Insurance Act, which provides the legal framework for removing brokers fro...
The directive forms part of broader efforts to enhance accountability and oversight across the industry as more insurers adopt technology-driven opera...
The amount marks a 77.6 per cent increase from the Sh370.93 million worth of claims turned down in a similar period last year.
The regulator says the structure of life insurance policies, commonly known as long-term business, makes them vulnerable to criminal abuse, highlighti...
The Insurance Regulatory Authority is working with the KRA to implement the new system, which is expected to enhance compliance and help local insurer...
Most cases emanated from the motor industry, with fraudulent motor accidents recording 16 cases, up from two in the previous corresponding quarter.
The call to refocus on microinsurance comes at a critical time when climate-related disasters are becoming more frequent and severe, further exacerbat...
The Insurance Regulatory Authority data shows that 14 out of 21 medical insurers posted underwriting profits in the first half of 2024.
The Public Procurement Regulatory Authority has weighed in on the matter, warning that the restricted tender violates several procurement laws.
CIAK Chairman Peter Otieno argued that the directive contravenes international trade conventions and restricts importers’ freedom of choice.
The survey, published in December 2024, found that nearly half of insurance customers (44.1 per cent) skipped premium payments.
Directline had written to the IRA listing the directors including SK Macharia's wife as a shareholder.
The legal battles surrounding Directline Assurance have placed a burden on motorists and the public transport sector.
IRA in this regard, said it has appointed the Policyholders Compensation Fund (PCF) as the Statutory Manager for the firm, under the statutory managem...
Out of the 47 counties, 19 counties (40.4 per cent) reported flood-related claims to general insurance companies.
In a statement on Tuesday, IRA Chief Executive Officer Godfrey Kiptum said the company's declaration of closure was null and void.
