October 28, 2021

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Insurers feel heat as motor underwriting losses rise to Kshs 3.9B

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Insurance companies who cover motor vehicles made 3.9 billion shillings in underwriting loss during the first six months of this year on account of increased claims. This is according to the Insurance Regulatory Authority’s latest industry report that indicates that claims arising from private motor vehicles rose 29.8% to 9.7 billion shillings while commercial motor vehicle claims increased 22.8 percent to 7.4 billion shillings.

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