CIC General pays Sh700 million in flood and protests claims

CIC General Insurance has settled about Sh700 million in claims related to floods and protests that rocked the country this year, highlighting the extent of disruption that the two events have had on the underwriters.

The insurer, which commands the third largest market share in short-term covers, paid out claims of about Sh300 million on the widespread floods that hit Kenya between March and June. The floods left a trail of death and injuries on people as well as destruction of property.