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​​​​​​​Insurance claims from floods rise to Sh5 billion

Flooded Graceland Estate

Flooded Graceland Estate in Athi River on April 24, 2024, after heavy rainfall overnight.

Photo credit: Sila Kiplagat | Nation Media Group

By  Patrick Alushula

Business Reporter

Nation Media Group

Insurance claims from floods that hit Kenya between March and June have risen by 62 percent to at least Sh5 billion, pointing to the impact of increased severity and frequency of climate-change related risks on underwriters.

Latest data from the Insurance Regulatory Authority (IRA) shows the figure is a rise from a claim of Sh3.14 billion that insurers had received by the end of April this year.

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