Home Business Car insurance accounts for 50pc policies cancelled

Car insurance accounts for 50pc policies cancelled

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Business Daily | by Otiato Guguyu


Car insurance accounted for more than half of the 87,699 policies cancelled last year as vehicles sat idle following Covid-19 movement restrictions that also hit cash flow and seizure of loan defaulter’s properties.

The Insurance Regulatory Authority (IRA) data shows that Kenyans cancelled 48,235 car policies that saw premiums on cars drop Sh2.3 billion…

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