Second-Hand Cars at a Container Freight station at Miritini in Mombasa County on February 4, 2022. Insurers trimmed losses incurred on motor vehicle covers by Sh2.7 billion between July and September 2022, even as some players in the industry denied some low-model vehicles comprehensive covers.
Insurers trimmed losses incurred on motor vehicle covers by Sh2.7 billion between July and September 2022, even as some players in the industry denied some low-model vehicles comprehensive covers.
Insurance Regulatory Authority’s (IRA) report on the industry during the third quarter of 2022 shows that while the general insurance business recorded a Sh2.26 billion loss during the three months, losses associated with covers issued to motor vehicles reduced from Sh7.3 billion to Sh4.6 billion.
