Browsing: delayed claims

• Kenya’s  Treasury Cabinet Secretary Njuguna Ndung’u has warned insurers to pay up on delayed claims or simply close shop. 
• In his speech at the ongoing 8th Eastern and Southern Africa Regional conference on inclusive insurance, Prof Ndung’u said insurers, who consistently fail to meet the set standards for good business practice should exit the stage. 
• The minister said the unfortunate tag of delayed or non-payment of claims often weighs down the insurance companies that have a good reputation of timely payment of claims. 

Kenya’s Treasury Cabinet Secretary Prof Njuguna Ndung’u has fired a warning shot to insurance companies that for varied reasons delay the payment of customer claims, asking them to instead simply close shop.

Dr Ndung’u said the unfortunate reputation tag of delayed or non-payment of claims often overshadows the insurance companies that have a good reputation of timely payment of claims.

“I would like to reiterate that insurance…