At the time, there were many different opinions as to who should pay and who is responsible. The Association of Kenya Insurers (AKI) took it upon themselves as an organisation to obtain legal opinion from a well-respected legal firm in Kenya.
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.
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.
Please watch the recording of our How to save money on your insurance premiums webinar to get insights on how you can better manage your general insurance premiums in this current environment.
We have understandably received many questions over the past few weeks asking how your health insurance might be impacted by Covid-19. We have collated all these questions and answers and formed an FAQ document. If you don´t find the answers to your questions in the FAQs then please just get in touch.
The way we work and manage our employees has changed significantly over the past 2 weeks and we are facing new challenges every day. We have partnered with Jst Work, an HR consultancy, to explore new ways of working and looking at resources that can help us run our companies as we work remotely.
Fears of infection, inadequate information and financial impacts have been identified as key stressors during quarantine and isolation, we have suggested practical ways to reduce the burden of these stresses for you.
We recently sent some information out in relation to the affect of Covid-19 on the insurances that we provide to our clients. It is inevitable that there will be a lot of changes on a very regular basis as things develop. We will try to keep you all up to date with details as they arise.