16 November 2012

Kenya: IRA Targets Churches to Promote Insurance

INSURANCE Regulatory Authority has gone to church to boost industry sales after recent attacks on places of worship raised concerns over risk management.

IRA yesterday met a group of church leaders to sensitize them on available insurance products locally and urged them to also help sell insurance to their congregation.

"We have churches which have what we call in insurance terms, a captive market," Makove said during his opening speech at the meeting held in Nairobi.

Makove said it was important that churches purchase insurance covers for various risks as it has become too costly to always fundraise whenever disasters or accidents affect a church.

Terror attacks linked to suspected retaliatory attacks over the war on Somalia militia group the al-Shabaab have been reported on churches this year.

In March a grenade was hurled at a church crusade gathering in Mtwapa, Mombasa, a month later, a nother church House of Miracles in Ngara was attacked during service leaving several people injured.

In July, masked gunmen stormed two churches in Garissa during service and shot indiscriminately at the congregation and in September, a nine year old boy was killed when a grenade was hurled at a Sunday school class at the Polycarp Anglican church in Juja, Nairobi.

Makove urged churches to transfer risk to insurance firms to avoid heavy financial burdens during disasters, tragedies and other calamities. Apart from its regulatory role IRA is also tasked with the ensuring insurance growth.

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