Home Business Car insurance premiums hit 6-year low

Car insurance premiums hit 6-year low

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Business Daily | by Otiato Guguyu


Insurance premiums paid by motorists dropped to a six-year low as vehicles sat idle with drivers staying at home following Covid-19 movement restrictions that also saw claims drop Sh1.1 billion.

Premiums on commercial and private car insurance fell by Sh2.3 billion or five per cent to Sh43.1 billion last year, the lowest since 2014 in a drop that hurt insurers earnings last year…

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