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Why is insurance so costly in Kenya?

It is no secret that insurance in Kenya is relatively expensive. From motor vehicle to health insurance, costs are sky-rocketing due to associated risks such as increased cases of carjackings and a rise in lifestyle diseases. Every field of insurance has a reason to justify its premium charges.

However, given that the factors influencing the cost of insurance are common across the globe, why is it that the cost of insurance in other countries is not that high?

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