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Decision to contact underwriters has eaten into insurance brokers market share

Association of Insurance Brokers Chairman Nelson Omollo. (PHOTO: James Wanzala Standard)

NAIROBI, KENYA: Brokers have accused banks of abusing a directive by the Government allowing them to offer insurance services to their clients.

According to the Association of Insurance Brokers of Kenya (AIBK), the National Treasury in 2011 introduced new rules that allowed banks to offer insurance services - also known as bancassurance - as a way of increasing insurance penetration in the country.

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