The value of fraud in Kenya’s insurance sector rose 24.4 percent to Sh386.3 million in the year ended June 2019, new data by the Insurance Regulatory Authority (IRA) shows, driven by false fire policy claims.
Fire insurance accounted for Sh200 million or 51.8 percent of the value of fictitious claims—an indication that some individuals deliberately torched their homes or business premises to fetch some money from insurers.
