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The Insurance Regulatory Authority (IRA) and the government will now be required to settle accident claims for policyholders of insurers that collapse or are unable to meet their obligations, the High Court has ruled.
In a decision likely to open up the insurance regulator to an avalanche of claims from motorists and accident victims insured by either collapsed or struggling insurance companies, Justice George Odunga ordered IRA to take care of all claims from a vehicle accident that took lives of several passengers.
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