Browsing: insurance penetration in kenya

CASH IN LIEU WHAT DOES IT mean for motor insurance (IRA)

Cash in lieu in insurance means where the insurance company exercises the option of giving you cash for repair of your car instead of them having it repaired for you. There are a number of ways an insurance company can settle a motor insurance claim: by having your car repairedor by giving you compensation in case of total loss or giving you cash for repairs. Insurance companies are technically liable for poor car repairs should you suffer injuries as a result. 

Thus for an insurance company to remove themselves from the latter kind of situation they should just be liable for the cost of repairs and not arranging for repairsThat is different in Kenya and elsewhere where insurance companies arrange for the cost of repair in bid to save a few shillings. An insurance company can opt for