I do not want to be the bearer of bad news, and I could be completely wrong, but I have a very bad feeling about what will happen to the insurance market in the future.
Firstly, just a reminder, WIBA (Work Injury Benefits Act) is a legal benefit for all employees of Kenyan businesses who have any injury at work, or work-related illness(limited to a maximum of 8 years´ salary).
On 25th April 2020 the President of Kenya assented to the Tax Laws Amendment Bill and this became an Act. Amongst various changes made, tucked away in the VAT section was the removal of VAT exemption on insurance brokers and agents.
The Covid-19 pandemic has placed extraordinary demands on leaders in business and beyond. On a good day, a leader’s job is simple: Keep the company running, employees productive, and customers happy.
Please watch the webinar recording of our Managing Cyber Security webinar with Dr Bright Gameli Mawudor who will outline the cyber threats we face and what you need to do to protect your business from cybercrime.
Please watch the webinar recording of our Managing Cyber Security webinar with Dr Bright Gameli Mawudor who will outline the cyber threats we face and what you need to do to protect yourself from cybercrime.
Some of you may have seen our article and comments relating to the announcement by our Regulator, the Insurance Regulatory Authority (IRA) of new guidelines for the industry. As we anticipated, a further announcement has been issued.
Regulation of our industry in Kenya, is governed by the Insurance Regulatory Authority (IRA) and they have recently produced some ‘Guidance Notes’ addressed to the industry. These notes seem to have been ‘pounced on’ by the media and, in our view, incorrectly reported.