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PACICC CEO Alister Campbell (left), JSC insurance Payment Guarantee Fund CEO Askar Utkelbayev (centre), Board of Trustee chairman Simon Mbugua and Commissioner of Insurance and IRA CEO Geofrey Kiptum during the Africa Insurance Resolution Conference at Edge hotel, Nairobi, on May 5, 2025. [Jenipher Wachie, Standard]
Stakeholders in the insurance sector are advocating for increased compensation for policyholders in the event that an insurance company collapses. Currently, compensation is capped at Sh250,000, a figure many industry players argue is too low, particularly for claimants whose policies are worth millions of shillings.
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