Insurance against terrorism set to grow
NAIROBI, Kenya, Sep 30 – Insurance of property against terrorism policies is expected to grow significantly following the Westgate siege that has left about 67 dead and 175 people injured. Association of Kenya Insurers Chief Executive Officer Tom Gichuhi on Monday said more insurance companies are keen in providing this cover due to interest from customers. “The current terror attack is likely to be a wakeup call especially for businesses with no terrorism cover and those who have terrorism cover to evaluate their current contract to make sure they are properly covered,” Gichuhi said.
He said the uptake of insurance has been slow even with its relatively affordable price and there is need for more businesses to be insured in this policy. “The insurance penetration as measured against GDP is 3.19 percent having increased from 2.7 percent in 2008 and that there still remains potential to raise this,” he said.... Read the full, comprehensive news article and discuss at CapitalFMSimilar Stories