Guideline to the Insurance Industry on Market Conduct for Insurers


This guideline issued pursuant to section 3A of the Insurance Act for observance by Insurers offers guidance on principles to be adhered to in conduct of insurance business by insurers with a primary focus on fair treatment of customers. 

The Authority recognizes that a stable insurance industry can only be achieved where the insurers, in conducting their business, treat the customers fairly and where there is a complaint by the customers this one is resolved expediently to the satisfaction of the customers.

The Authority aims to strengthen public trust and confidence in the insurance sector for existing and potential customers and other market participants; minimize the risk of insurers adopting business models that are unsustainable or pose reputational risk; and create a level playing field, upon which insurers can compete while maintaining acceptable business practices with respect to fair treatment of customers.

The fair treatment of customers encompasses concepts such as ethical behavior, acting in good faith and the prohibition of abusive practices. 

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Sunday, June 30, 2013
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Insurance Regulatory Authority of Kenya
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