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Insurance firm compensates Naivas for fire accident

BUSINESS
By Jevans N. Miyungu | October 4th 2014
By Jevans N. Miyungu | October 4th 2014
BUSINESS

Nairobi; Kenya: Kenindia Assurance has compensated Naivas Supermarket for the loss the retail chain suffered when one of its branches in Nairobi burnt down early last month.

Presenting a Sh20 million cheque to Naivas director David Kimani in his office, Kenindia Assurance Chief Executive Officer Vinod Bharatan, said the firm has paid the money even though the claim is still being adjusted.

“Naivas suffered a loss of about Sh100 million when its Utawala branch burnt down last month. We will complete the compensation soon,” he said.

The insurance company, which was formed from the merger of Indian Insurance companies operating in Kenya in 1978, also insured the Westgate Mall at Sh5 billion and has, so far, paid Sh600 million on account awaiting adjustment.

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