Small scale trader’s advised to insure their businesses

Dealers in Small and Medium Enterprises (SME) have been advised to insure their businesses to avoid losses occasioned by accidents and calamities.

An agent from Insurance Regulatory Authority (IRA) Michael Karanja said that many small scale traders ignored insuring their businesses as they had the notion that insurance was for big corporates.

Be it a bodaboda or a shop, it’s good to insure them since no one knows about tomorrow. Many business people or employees have had complaints with their insurance brokers and we as IRA act as your watchdogs. We supervise the industry for your own good, said Karanja.

Some people insure their businesses and forget about their life which is one of the best insurance they can get and so they should not feel uneasy to come and seek help from IRA, added Karanja.

Karanja explained that IRA is a government agency that regulates all insurance companies in Kenya and its major work is to help insurance clients who have problems with their insurance companies and those who want to insure their businesses.

He asked anyone who has a problem of insuring any business or wants to learn more about insurance to should seek assistance from the IRA.

The IRA is, therefore, calling upon everyone who has a problem with his/her insurance to visit them in their offices and get the help they may need, he said.

Karanja spoke in Thika town Saturday during a two day workshop to sensitize people on insurance strategies.

Source: Kenya News Agency