A client has accused an insurance Brokerage firm of failing to refund Ksh. 20,000 for an insurance cover that was never delivered. Mr Jumbe Titus Namisi says that on Friday last week he visited the offices of Vike Insurance Brokers on Krishna Plaza next to Bandai Plaza in Westland. He paid for the cover for a motor vehicle Reg. KCC ***J that He had purchased from a dealer in Karen.
When it came to printing the cover, the integrated IRA system indicated that the vehicle had an existing cover from the previous owner; the system could therefore not accept generating a duplicate or double insurance cover. He reached out to the seller to facilitate a cancellation. Time went without success in the cancellation of the existing cover by the previous owner. He decided not to take the insurance and instead requested a refund on 17th September.
Two years ago The Insurance Regulatory Authority released a list of all the newly licensed industry players in the insurance sector. The hardest hit players in the industry were the insurance brokerage firms, where 82 firms were left out of the list by IRA. In 2019, IRA had a total of 213 insurance brokerage companies listed but in the new list, only 131 firms made it. By the time of writing this story, we had not confirmed whether Vike Insurance Brokers was among them
The refund never came even after making various calls to the director Ken Chege, his accountant Mr James Muhanda and the underwriter, one Lawrence to no success. He decided to visit the office yesterday at around 3.30 pm. The whole team at Vike Insurance kept on telling him stories that did not add up or even make sense to him. They abandoned him at the reception at 8 pm.
Two years ago The Insurance Regulatory Authority released a list of all the newly licensed industry players in the insurance sector. The hardest hit players in the industry were the insurance brokerage firms, where 82 firms were left out of the list by IRA. In 2019, IRA had a total of 213 insurance brokerage companies listed but in the new list, only 131 firms made it. By the time of writing this story, we had not confirmed whether Vike Insurance Brokers was among the list of the firms that had been left out of the list by IRA.
