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Seven insurers face IRA fines for reporting gaps
Mwambu Mabonga at the IRA's Upper Hill office on February 16, 2023. President Ruto has revoked his appointment as the chairman of the Insurance Regulatory Authority (IRA). PHOTO | DIANA NGILA | NMG
Seven insurance firms face fines from the regulator after missing the deadlines for submitting records of their business performance, including premiums received and claims paid out as provided in law.
The latest Insurance Regulatory Authority (IRA) disclosures show that Corporate Insurance, Monarch Insurance General, Xplico Insurance, Invesco Assurance and Trident Insurance —all of which had been fined in 2021— continued with the breaches.
