Nairobi — Kenyans holding virtual assets such as cryptocurrencies could soon insure them under new rules proposed by the Insurance Regulatory Authority (IRA).

The draft Insurance (Amendment) Regulations, 2025 seek to create a legal framework allowing insurers to provide cover for digital assets, marking a major step toward integrating crypto into Kenya's regulated financial system.

"The Kenyan insurance market has also adopted the use of technology such as AI chatbots and various insurance applications that offer platforms for digital claims processing, online customer service, and telematics-based policies," the IRA notes in the draft Insurance Regulations 2025

It adds that there are currently "little to no regulations or standards regarding usage of such technologies despite the threat of cybersecurity and invasion of privacy."

Kenya presently lacks a framework permitting insurance of cryptocurrencies, even as adoption of digital assets continues to rise.

The IRA says the amendment will help modernize insurance regulation, enhance coordination across jurisdictions, and build the authority's capacity to manage emerging technological risks.