Insurance Regulatory Authority had a meeting on Wednesday 16th March in one hotel in Bungoma town with journalist from various media houses.
The main aim was to educate journalists on financial journalism and also to teach them on insurance and insurance policies.
The head of corporate communications of the Insurance Regulatory Authority Noela Mutanda said that the meeting was mostly focused on journalists since they are the ones that control and set the agenda of every information in the country.
“We have chosen to have a meeting with journalists because they play the agenda setting role in the country. They will also help generate factual information on insurance and insurance policies,”said Mutanda.
During the meeting various issues involving the insurance sector was mentioned. One major issue that was mentioned was the issue of fraud from perpetrators who claim to be insurance agents. The head of corporate communications said that individuals should not buy insurance from agents who are not registered with the Insurance Regulatory Authority. She also mentioned that one can confirm if a particular agent has been licensed by IRA by asking for the agents ID number and confirming with IRA through their hotline which is 0800724499. Upon doing this they will be able to know if they are at a risk of becoming victims of fraud. She said that people should take control so that they can escape money laundering.
The other issue that was discussed during the meeting was the issue of insurance customers being ignorant where she said people do not take their time to read through the forms given when filling the insurance forms. Some do not even have insurance requirements, instructions and policies but they still end up signing the forms.
Noela Mutanda said that customers should take their time to understand the insurance policies they are applying for and that they should also read through the requirements, terms and conditions properly. She added that in case they do not understand the policies they should seek assistance from financial advisors or insurance agent. Doing this will help prevent chaos when customers begin claiming their benefits in case they are faced with challenges or the risks they insured against.
IRA will also be having a meeting with boda boda operators on Thursday, 17th March 2022 at Mabanga.
The meeting will be coming right after the government issued a crackdown on boda boda operators.
The organization has said that it mainly aims at advising boda boda operators on having insurance covers that will assist them in case of tragedy.
By Faith Chandianya