Magazine date:
Jul 2014 Despite the recent attack on the West Gate Mall in Nairobi, the Insurance Regulatory Authority (IRA) noted that few companies purchase covers protecting them against acts of terrorism. In fact, most SMEs are unaware that the standard fire policies do not include coverage of terrorism.
That’s why the authorities require insurers to take the necessary steps to properly inform the insured and give them the opportunity to include in their guarantees the terrorism coverage.