By Eddah Waithaka
On August 26, the Insurance Regulatory Authority (IRA) and the Advocates Complaints Commission (ACC) signed a Memorandum of Understanding (MoU) to increase transparency in the settlement of accident claims by insurance companies.
The MoU establishes a formal framework for the ongoing collaboration between the IRA and ACC, aimed at addressing the rising concerns over complaints against advocates, especially regarding the settlement of insurance compensation claims.
A considerable portion of complaints submitted to the ACC pertain to Advocates retaining compensation from resolved insurance claims. ACC encounters difficulties in acquiring updates on the settlement status from insurers, impeding its capacity to thoroughly address and investigate these grievances.RA will play a critical role in securing full cooperation from insurance companies, with a focus on improving transparency and fair treatment of policyholders and individuals making claims.
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Speaking at a press briefing, Hon. Moses K. Cheboi, Chairman of the Lawyers Complaints Commission, noted that the cooperation of the Authority is crucial in its mission to uphold the standards of the legal profession.
“This MoU provides us with the necessary tools and support to effectively investigate and resolve complaints, particularly those involving the remittance of insurance proceeds by lawyers. We look forward to a fruitful collaboration that will ultimately benefit the public,” said Cheboi.
Insurance Commissioner Godfrey K. Kiptum also noted that the partnership is a critical step in the ongoing effort to ensure that the insurance industry operates with the highest level of integrity and accountability.
“This will be cemented by working closely with the Commission, and we are committed to addressing any gaps that allow for the exploitation of policyholders and ensuring that justice is served, ” Kiptum said.
