Magazine date:
Nov 2015 Road accidents are proving increasingly expensive for Kenyan insurance companies and the state.
According to the Association of Insurers of Kenya (AKI), each year, road accidents claim the lives of 3000 persons and cost to the industry, 21.5 billion KES (241.45 million USD).
The motor net incurred losses reached 82.36 billion KES (924.91 million USD) in 2014, an increase of 25.8% compared to 2013.
Meanwhile, due to road accidents, the state loses annually about 250 billion KES (2.807 billion USD), that is 5% of the country's gross domestic product (GDP) estimated at 5 trillion KES (56 billion USD).