Kenyans who had acquired insurance policies with BlueShield, United, Xplico and Invesco insurance companies, which are under either liquidation or statutory management, have been asked to lodge claims for compensation with Policy Holders Compensation Fund (PCF).
Further, the public has been warned against falling prey to rogue insurance agents who may be purporting to offer services with the four companies.
PCF is a government agency meant to cushion insurance consumers when their insurers collapse.
Speaking during a sensitization forum with boda boda operators in Garissa town, Deputy Director for Corporate Communication at PCF Rosemary Kavili said that the agency had launched a campaign dubbed ‘PCF Mtaani’ to educate the public on its mandate and functions in order to increase the public’s confidence in the insurance sector.
Kaviri however said that successful claimants would be compensated a minimum amount of Sh250, 000 per claim.
“We are doing campaigns to tell Kenyans on how they can claim compensation in case an insurance company has been closed or has been placed under statutory management. We will take them through the process so that they can be sure that at the end of the day, it will be paid,” Kaviri said.
“When the fund does compensation, it increases the confidence that they will continue consuming insurance policies. In case you have anybody who has claims on the four companies, let them come over and lodge their claims with us so that they are able to be compensated because we still have the money,” she added.
Meanwhile, Garissa Township Deputy County Commissioner Sebastian Okiring on his part urged the boda-boda riders to acquire driving licenses in respect to the Traffic Act and ensure that their property is insured so as to guarantee their safety and the safety of their customers.
“The purpose of this awareness is to let them know the existence of PCF which is an organ created to cater for the insurance whose insurance company has fallen,” Okiring said.
“It is important for the boda-boda operators to note that the law still applies to everybody particularly when it comes to ownership of driver’s license and respecting the Traffic Act and above all, ensuring that their equipment is appropriately insured,” he added.
By Erick Kyalo and Grace Nyawira
