By G, KNA
The Government has put in place necessary measures to ensure all insurance policy holders are protected in case an insurance firm collapses.
Rosemary Kavili, the Deputy Director Policyholders Compensation Fund in charge of Corporate Communication while speaking in Nandi noted that through PCF Mtaani campaign, many Kenyans policy holders who lost hope after their insurer collapsed have hope to be compensated.
Kavili stressed that PCF Mtaani works with other relevant agencies for instance Insurance Regulatory Authority to educate Kenyans on what to do incase their insurers are put under statutory management.
She said they are reaching out to all relevant stakeholders across the country by advocating the importance of grassroots awareness.
“Many Kenyans do not know that the Policyholders Compensation Fund exists to safeguard them when an insurer collapses and that our mission is to close this gap and ensure citizens are aware of their rights and the protections available to them through this sensitization forums.” she noted.
She also revealed that PCF assists Kenyans who are having compensation challenges from insurance firms which are under receivership.
Kavili however beseeched Kenyans to consult widely before signing any policy contract with insurance firms to avoid cases of misunderstanding or even being conned to sign agreement which appears attractive but not practical.
Nandi Traffic County Base Commander Lydia Chepkwony while addressing boda boda riders’ representatives urged them to uphold safety standards and appreciate the value of being insured.
“Most of the accidents we respond to involve riders who have no valid insurance and this sensitization comes at the right time,” she remarked,
Chepkwony added that there is need for the riders to protect their livelihoods by ensuring you are fully compliant and with the right gear as they go about their daily hustle.
The event was officially opened by Nandi Central Deputy County Commissioner Paul Kemei, who represented County Commissioner.
Kemei applauded PCF for bringing such informative forums closer to the community.
“Forums like these ensure that knowledge reaches the people who need it most,” he said.
But he cautioned boda boda riders to avoid ridding while drunk to avoid accidents especially during this festive season.
The PCF is a state corporation under the National Treasury and Economic Planning, has intensified its nationwide sensitization program with Nandi County becoming the eleventh stop out of the 47 counties targeted in the campaign.
The five-day awareness drive dubbed PCF Mtaani kicked off on Monday at the Eliud Kipchoge Sports Complex with a forum for journalists from various media houses operating in the county.
The session centered on enhancing public understanding of the Fund’s mandate to compensate claimants of insurance companies that have been placed under statutory management or whose licenses have been revoked by the Insurance Regulatory Authority (IRA).
On Tuesday, the PCF team shifted focus to the boda-boda sector, drawing an impressive turnout across the six sub counties as all invited riders attended the forum.
engagement was enriched by the presence of key stakeholders, including officials from the National Transport and Safety Authority (NTSA) and the County Base Commander, who interacted directly with the riders on issues of safety, compliance, and insurance obligations.
The Policyholders Compensation Fund acts as a safety net for policyholders when insurers become insolvent.
The Fund provides compensation up to statutory limits of Sh250,000, reducing financial vulnerability with the claimants and promoting trust in the insurance sector.
PCF’s ongoing sensitization forums is part of its broader strategy to enhance insurance literacy across the country, especially among high-risk sectors such as boda-boda operators, matatu owners, insurance agents and even the key administrative sectors such as the County and the National Government who frequently interact with insurance services.