Boda boda riders sensitised on Policyholders Compensation Fund's mandate

By Peter Ochieng

Boda Boda riders sensitized on Policyholders Compensation Fund’s mandate Boda boda (motorbike) and Tuk Tuk riders drawn from various parts of Kisumu County on Wednesday interacted with Policyholders Compensation Fund (PCF) officials, during a sensitization forum held at a Kisumu hotel.

Addressing members of the press on the sidelines of the event, Rosemary Kavili, PCF’s Deputy Director, Corporate Communications said the riders are at the core of insurance industry in the country, owing to their daily activities in the transport sector.

She said their mandate revolves around compensating clients of insurance companies that undergo liquidation or have their licenses revoked for various reasons.

Kavili stated that they are currently compensating claimants of Resolution Insurance Company Limited, Concord Insurance Company Limited and Standard Assurance Company Limited, which are no longer operational.

724 Resolution Insurance Company Limited claimants have already been compensated a total sum of Sh82.21 million, 45 Concord clients have received their payment totaling to Sh9.02 million, while 9 claimants linked to Standard Assurance Company Limited have received a total of Sh1.95 million in compensation.

The maximum compensation per individual has been capped at Sh250,000.

She urged anyone with complaints related to the three companies to come out.

“If you have any issues, come forward and launch your claims,” she said.

Kavili urged boda boda and Tuk Tuk riders to join insurance companies, adding that PCF will come to their aid if things don’t end up well. The sensitization workshop was officially opened by Kisumu county commissioner Hussein Allasow Hussein.

He urged Kenyans not to fear taking up insurance policies over the likelihood of losing money when companies go into liquidation, saying that PCF is there to ensure that their money is safe and secure.

“PCF is there to ensure that your money is safe,” said the County Commissioner.

On his part, Kisumu County Tuk Tuk Association Chairman Michael Mboya Otieno, urged Tuk Tuk and boda boda owners not to allow them on roads without insurance.

The CPF’s sensitization forums in Kisumu are on until Friday this week, with various interest groups being targeted.