Partial Settlement of Concord Insurance Co. Ltd (In Liquidation) Policyholder Claims
Introduction
Policyholders Compensation Fund (PCF) is a State Corporation set up pursuant to Section 179 of the Insurance Act. The Fund was operationalized vide Legal Notice No. 105 of 2004. The Act clearly sets out the mandate of the Fund. This is further elaborated in the Policyholders Compensation Fund
Regulations, 2010.
Partial Settlement of Standard Assurance Co. Ltd (In Liquidation) Policyholder Claims
Policyholders Compensation Fund (PCF) is a State Corporation set up pursuant to Section 179 of the Insurance Act. The Fund was operationalized vide Legal Notice No. 105 of 2004. The Act clearly sets out the mandate of the Fund. This is further elaborated in the Policy-holders Compensation Fund Regulations, 2010.
The primary purpose of the Fund is to protect policyholders of insolvent insurers by providing them with compensation for unsettled claims. The maximum compensation payable by the Fund on any one claim lodged by a claimant is Kshs. 250,000.00.
Partial settlement of concord and standard assurance co. Ltd (in liquidation) policyholder claims
1.0 Introduction
Policyholders Compensation Fund (PCF) is a State Corporation set up pursuant to Section 179 of the Insurance Act. The Fund was operationalized vide Legal Notice No. 105 of 2004.
The Act clearly sets out the mandate of the Fund. This is further elaborated in the Policyholders Compensation Fund Regulations, 2010. The decision to establish the Fund was a key initiative in the reform of the insurance sector. Its primary purpose is to protect policyholders of insolvent insurers by providing them with compensation for unsettled claims. The maximum compensation payable by the Fund on any one claim lodged by a claimant is Kshs. 250,000.00.
