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Abstract

  • The State ought to due to this fact decide the explanations policyholders usually are not displaying as much as declare the money, which is certainly not little particularly in mild of the Covid-19 pandemic that has ravaged livelihoods.
  • PCF shouldn’t be fast to switch this cash to the liquidator because it has stated it’ll if the individuals don’t come ahead for the payout

1000’s of policyholders within the collapsed Harmony Insurance coverage have reportedly failed to gather their compensation, with solely 30 out of two,949 displaying up for the Sh250,000 payout.

Due to the low variety of takers, the Policyholders Compensation Fund (PCF) has prolonged the time for the payout within the hope that extra individuals will come out and declare their dues.

Why has such an amazing variety of individuals failed to gather their pay? Harmony Insurance coverage collapsed eight years in the past. It’s due to this fact potential that some individuals might not be conscious of the compensation scheme. Additionally it is potential that among the claimants misplaced hope of ever getting paid. Others might have died.

The State ought to due to this fact decide the explanations policyholders usually are not displaying as much as declare the money, which is certainly not little particularly in mild of the Covid-19 pandemic that has ravaged livelihoods.

PCF shouldn’t be fast to switch this cash to the liquidator because it has stated it’ll if the individuals don’t come ahead for the payout

Whereas extending the time for making the claims is sensible, PCF must also create public consciousness marketing campaign on the payout.



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