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Insurance companies to pay clients Sh250,000 on collapse

The Association of Kenya Insurers chief executive Tom Gichuhi. PHOTO | SALATON NJAU

Policyholders of collapsed insurance firms in the country will now get maximum compensation of Sh250,000 in legal changes announced by the Policyholder Compensation Fund (PCF).

The amount is an increase of Sh150,000 from the Sh100,000 that PCF was by law obligated to pay in the event that an insurance company is declared insolvent.

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Note: The results are not exact but very close to the actual.

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