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Win for customers of collapsed insurers as State doubles payout to Sh500,000
The increased insurance compensation now matches the maximum Sh500,000 per-customer compensation that the Kenya Deposit Insurance Corporation (KDIC) gives affected customers when a bank collapses.
The State has doubled the maximum compensation payable to policyholders of collapsed insurance companies to Sh500,000 per claim, marking a boost to consumer protection in the insurance sector.
The National Treasury and the Policyholders Compensation Fund (PCF), which handles the compensation package, has announced the increase in maximum compensation from Sh250,000, effective January 1, 2026.
