Professional Indemnity Insurance for Doctors and Medical Practitioners

Lack of insurance awareness coupled with unequal distribution of resources and high rates of unemployment was a major hindrance for the insurance business in Kenya. The growing economy supports increasing insurance penetration and thus opens a window for the growth of an insurance company in Kenya. As insurance is seen as an extra burden in the country, insurance companies need to adopt innovative approaches which would benefit customers of all income groups. Non-life insurance consisting of medical insurance and motor insurance in Kenya, has dominated the insurance sector in Kenya for a decade. Thus, the fast-soaring GDP, less insurance buyers and competition among the insurance companies leaves the companies struggling for improving their market share.

Among the most prominent responsibilities is ensuring that the insurance industry does its part to maintain consumer confidence in the marketplace. With the state of the industry changing on a dime, the need for comprehensive guidance on insurance company regulations for the retail sector has never been more critical. This framework has been criticized by stakeholders in the insurance industry as being overly complex and anti competitive. A retail insurance policy should cover both business owners and employees. Smaller retailers may qualify for small business health insurance from the insurance agency, which can help offset the costs of providing healthcare to employees.