Launch Of Insurance Fraud Investigating Unit
(a partnership between IRA and the Kenya Police)

The Insurance Regulatory Authority (IRA) is mandated with regulating, supervising and developing the insurance industry in Kenya. The Authority is also mandated to protect the interests of policy holders, insurance beneficiaries and the public. This mandate is executed through a combination of legal and regulatory measures and is aimed at not only ensuring industry stability and market confidence but also spurring growth.

Fraud in the Insurance Industry

Despite the focus on maintaining industry stability and growth, it is also recognized that the insurance industry continues to suffer negative public perception and image. This reputational risk has been partly attributed to the effects of fraud and other malpractices afflicting the insurance industry. Insurance fraud remains a complex and most significant risk affecting operations of insurers and intermediaries. Its pervasive nature as white collar crime implies that its elimination is bound to be an odious and expensive Read more...