Insurers’ Customers to Receive Payouts in July
Why this is here: The fund has already compensated over 2,000 claims totaling Sh358 million since 2021, demonstrating an established process for assisting policyholders of failed insurers.
Customers of Trident, Kuscco Mutual, and Corporate Insurance will receive compensation starting mid-July. The Policyholder Compensation Fund (PCF) assumed operations of the three insurers after they entered statutory management earlier this month. PCF will begin accepting claims within two to three weeks.
PCF stated a 90-day processing window will follow claim submission. The fund has digitized claims management to expedite processing times. This payout will utilize an enhanced compensation scheme of up to Sh500,000 per claim.
The Insurance Regulatory Authority placed the three companies under PCF management on March 10, 2026. This action followed breaches including insufficient capital and failure to submit financial statements. The new compensation limit, effective January 23, 2026, increased the previous payout of Sh250,000.