Coronavirus: Kenyan insurers cover health costs
The Insurance Regulatory Authority (IRA) requires the insurers that all pandemic claims be settled in full. With the accumulation of claims, the market is likely to sustain tremendous losses.
To avoid such a situation, the Kenyan insurers want to adopt a common position on COVID-19. The Association of Kenya Insurers (AKI) will shortly issue a statement detailing the amounts to be covered by its members.
Insurers are granting an extension of premium payment and policy renewal deadlines to the policyholders whose businesses ceased due to the pandemic.