GA Insurance has stopped issuing comprehensive covers to six motor vehicle companies in Kenya, citing high losses from the policies.
The company issued a notice that it will no longer issue comprehensive cover to Toyota Probox, Toyota Succeed, Toyota Sienta, Toyota Passo, Toyota Porte and all Suzuki models valued at Ksh1 million and below.
In a letter dated October 21, the company said “After a comprehensive review of our motor private book and the loss trends, we wish to communicate that there are vehicles whose usage has been misemployed and therefore proven to be a challenge when settling claims”.
A comprehensive cover offers to compensate for losses from multiple risks including theft, fire, vandalism and damage to the vehicle.
“We will therefore not underwrite the below models on comprehensive basis to ensure smooth running of business and maintain an excellent client experience”, the statement further read.