Thursday, February 26th, 2009
The global economic crisis won’t just leave us alone. Now players in the insurance sector are predicting an increase in premium charges. AIG Kenya Insurance Company Managing Director Japh Olende says the sector could see an increase premium charges as a result of a sharp rise in the cost of imports due to the weakening Kenyan shilling. Olende says escalation in claims due to the high cost of imports of vehicle spare-parts could see the charges on insurance premiums increase by 10 to 20 percent to cover the rising cost.
