PUBLIC NOTICE: Declaration of a Moratorium - Invesco Assurance Company Limited (Under Statutory Management)
DECLARATION OF A MORATORIUM
PURSUANT to the appointment of the Policyholders Compensation Fund (PCF) as Statutory Manager for Invesco Assurance Company Limited by the Commissioner of Insurance in exercise of his powers under Section 67 C (2) (i) of the Insurance Act dated 14th August 2024,
PUBLIC NOTICE: Placement of Invesco Assurance Co. Ltd Under Statutory Management
Policyholders Compensation Fund (PCF) is a State Corporation under the National Treasury and Economic Planning that was established under Section 179 of the Insurance Act (CAP 487) and operationalized through the Legal Notice No.105 of 2004. The Fund was established for the primary purpose of providing compensation to policyholders and claimants of an insurer that has been placed under Statutory Management or whose license has been cancelled and for the secondary purpose of increasing the general public’s confidence in the insurance sector.
PUBLIC NOTICE: Compensation Of Policyholders And Claimants Of United Insurance Company Limited (Under Liquidation)
Policyholders Compensation Fund (PCF) is a state Corporation under the National Treasury and Economic Planning that was established under Section 179 of the Insurance Act (CAP 487) and operationalized through the Legal Notice No. 105 of 2004. The Fund was established for the primary purpose of providing compensation to claimants of an insurer that has been put under Statutory Management or whose license has been cancelled and for the secondary purpose of increasing the general public’s confidence in the insurance sector.
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.