Microfinance Gateway>New Insurance Regulations in Kenya May Negatively Impact Microinsurance

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Home » News & Opinion » New Insurance Regulations in Kenya May Negatively Impact Microinsurance

New Insurance Regulations in Kenya May Negatively Impact Microinsurance
Ole Turana, J.

According to players in the field of microinsurance in Kenya, the implementation of new insurance guidelines will affect the nascent sub-sector with the potential of locking out new players and low-income earners. Their concern is also that a new capital requirement may lock out potential players.

“Micro-insurance is a low-premium high-volume business and it’s effective through bundling strategy which involves packaging life and general insurance to increase uptake,” said Mr Nelson Kuria, the managing director of CIC Insurance. According to Mr. Kuria, the implementation of the new requirements will stop the ongoing drive to increase penetration.

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Posted: 29 Jul 2010
Source: Business Daily
Originally Published: 29 Jul 2010