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The Association of Kenya Insurers (AKI) has developed a virtual motor insurance certificate to curb insurance-related fraud in the industry.
The insurance industry umbrella lobby said Monday that the digitisation of the insurance certificates will break an elaborate motor vehicle fraud scheme that has been bleeding the industry of millions of shillings through fake multiple claims. Digitisation is also expected to increase efficiency.
Britam has launched a new service , Motor vehicle insurance, to manage car accidents hoping it will help cut down fraud. This comes just weeks after an insurance sector report revelation showed widespread malpractice.
The research, by insurance tech firm Bismart on the motor vehicle insurance sector, was released early April to reveal disturbing trends in the uptake of motor vehicle insurance.
Your car is parked safely in the parking lot as you run into the grocery store – but when you return you find that your vehicle has been broken into and your belongings inside were stolen. One of the first questions you ask yourself is, “does auto insurance cover theft?”
Whether or not insurance covers theft can vary depending on the situation and the type of auto insurance you have. Comprehensive coverage will usually cover theft, as well as repair costs from break-in damages. Liability insurance likely won’t cover theft, as it usually protects against bodily injury and property damage resulting from an accident.
Every business owner shoult have a businesss insurance cover, in that, risk comes with the territory when you run a small business. Negative cash flow, personnel issues, accidents on your premises, fire or flood.
While lawsuits can be avoided, it still makes sense to be able to cover for themA single mistake can bring down everything you’ve worked for but you can protect your company with business insurance designed to address common issues.
Find out why home insurance cover is important. The cost of living in Kenya has seen a drastic increase in the past year that may spill over to the first quarter or half of 2018. Factors such as increased cost of oil and the rise of the US dollar have had a direct impact on the upward trend in the cost of living.