NAIROBI, Kenya Aug 28- The Insurance Regulatory Authority (IRA) will now handle complaints lodged with the Advocates Complaints Commission (ACC) involving cases of withholding compensation by Advocates from settled insurance claims.
This follows a recent Memorandum of Understanding (MoU) signed by both the IRA and the ACC in bid to bolster consumer protection and enhance transparency in the process of settlement of accident claims by insurance companies.
Godfrey Kiptum Chief Executive Officer (CEO) of IRA affirmed that the partnership seeks to address concerns related to increased complaints against advocates, particularly in the settlement of insurance compensation claims.
“This partnership is a critical step in our ongoing efforts to ensure that the insurance industry operates with the highest levels of integrity and accountability. We are committed to addressing any gaps that allow for the exploitation of policyholders and ensuring that justice is served,” said Kiptum.
Through the agreement, the commission can formally request IRA’s intervention in cases where insurers are uncooperative.
Additionally, the MoU establishes a framework for regular information exchange, capacity building, and collaborative policy development to bolster consumer protection.
ACC has in the past faced challenges in obtaining information regarding the status of settlement of claims from insurance companies, thus hindering its ability to effectively investigate and resolve these complaints.
Moses Cheboi, Chairman of the ACC, noted the partnership will enable the Insurance Regulatory Authority to ensure full cooperation from insurance companies, as the Authority aims to strengthen transparency and fair treatment of insurance policyholders and claimants.
He stated that the agreement will facilitate effective investigation and complaint resolution, particularly cases involving the remittance of insurance compensation by advocates.
“The cooperation of the Authority is crucial in our mission to uphold the standards of the legal profession. This MoU provides us with the necessary tools and support to effectively investigate and resolve complaints,” said Cheboi Chairman ACC.
