News Africa14 Oct 2019

Kenya:Govt to formulate national policy framework for insurance

| 14 Oct 2019

The government is in the process of developing a National Insurance Policy Framework expected to strengthen the policy, legal and regulatory environment in order to improve access, usage and affordability of insurance products and services in Kenya, and facilitate further development of insurance services in Kenya in line with broader public policy objectives of the government.

According to the National Treasury, the development of the policy will support the following key objectives:

  1. Promotion of insurance as a risk management tool;
  2. Access to insurance services that respond to local challenges;
  3. Mobilisation of financial resources to fund development;
  4. Growth of the insurance sector and
  5. Broader financial inclusion and access.

To enhance inclusive decision making during the development of this Policy, key stakeholders and members of the public are requested to provide input on issues to be addressed by the National Insurance Policy. The deadline for submitting feedback is 22 October 2019.

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