CIC General pays Sh700 million in flood and protests claims

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CIC General pays Sh700 million in flood and protests claims

//business-finance.news-articles.net/content/202 .. -sh700-million-in-flood-and-protests-claims.html

Published in Business and Finance on Tuesday, December 17th 2024 at 8:40 GMT by Business Daily Africa
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

CIC General Insurance paid claims of about Sh300 million following the widespread flooding that hit Kenya between March and June.

CIC General Insurance has disbursed Sh700 million to cover claims from the recent floods and anti-government protests in Kenya, as reported by CEO Fred Ruoro. The company has processed 1,200 claims, with 600 related to the protests and 600 from the floods. The floods, which started in March, have caused significant damage, including the loss of 291 lives and displacement of over 280,000 people. The insurance firm has also noted an increase in premiums due to the heightened risk environment. Additionally, CIC General has been actively involved in providing relief efforts, distributing food and non-food items to affected communities. The company is also preparing for potential future claims as the rainy season continues, with the government forecasting more heavy rainfall.

Read the Full Business Daily Africa Article at:
[ https://www.businessdailyafrica.com/bd/corporate/companies/cic-general-pays-sh700-million-in-flood-and-protests-claims-4860612 ]

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