The Insurance Regulatory Authority (IRA) has today kicked off a three-day open day at Nyayo Gardens in Nakuru.
The Kenyan Insurance regulator’s officers had a busy day dealing with a huge number of residents who sought their services especially enquiries.
Also on site were more than twenty insurance companies most of who have offices in Nakuru. Officers from the insurance companies have spent the first day engaging Nakuru residents who are interested in their services and products.
The open forum whose admission is free to the public will run until Saturday during which time the organisers hope to meet and address the needs, queries and complaints from the general public.
Also represented was the College of Insurance, the unclaimed assets authority and the Policyholders Compensation Fund (PCF). PCF is a government agency managed by the Retirements Benefits Authority (RBA).
The Policyholders Compensation Fund was formed by an act of parliament in September 2004. The PCF takes a 0.25% levy from every policyholder’s contribution topped up by a similar amount by the insurance company. The fund is meant to cushion policyholders in case of a collapse of the insurance company.
Turn out to the open day has been good on the first day and more residents are expected to attend in the next two days