IRA To Follow Up On Payment Of Client Claims
Insurance Regulatory Authority (IRA) will execute its collective supervisory duty over insurance firms and ensure clients were not shortchanged in payment of their claims.
The IRA board chairman, Mwambu Mabonga, explained, the responsibility will be conducted even if it meant lobbying for new legislation.
Addressing the media at Agricultural Training Centre, Kisii, during a consultative visit with insurance agents in the region, the chairman vowed to follow up on clients’ unpaid claims with the lawyers’ professional body and the courts of law.
He recommended a law to ensure clients received their rightful share of the claims separately from that of their lawyers.
Mwambu,however,asked clients to respect the confidence of the lawyers they hired to process the claims for them and stop bothering the IRA for intervention.
The chairman pledged to tackle constraints facing the insurance agents including engaging key stakeholders in the industry.
He decried the low uptake of insurance coverage in the region but fell short of disclosing the statistics.
BY MOSES MARANGA
Tags: Signstv Ira Mwambu Mabonga Insurance
