Policyholders compensation fund seeks to increase compensation cap

Players in the insurance sector are advocating for an increase in policyholder compensation if an insurance company goes under. According to the policy holder compensation fund, the body mandated to effect the compensation under the national treasury, the capping of compensation at only 250,000 shillings is minimal and disadvantages claimants who have been adversely affected and whose sum assured runs into millions of shillings. The sector is calling in kenyans to submit proposals in the ongoing drafting of the pcf bills to anchor it in law.