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Private car owners in Kenya set to pay higher premium

Association of Kenya Insurers (AKI) CEO Tom Gichuhi (left) and AKI Vice Chairman Hassan Bashir admire the just released Insurance Industry Report 2015 during yesterday's event. Motorists are likely to pay more for car insurance as underwriters feel the impact of higher costs and lower earnings from the high-risk private motor sub-sector. (PHOTO: COURTESY)

Motorists are likely to pay more for car insurance as underwriters feel the impact of higher costs and lower earnings from the high-risk private motor sub-sector.

Insurers blame the losses they have incurred in that segment on the low premiums charged, despite the high risks involved in underwriting motor insurance.

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