CS Moses Kuria warns police against asking for bribes from motorists covered by Xplico Insurance
Public Service Cabinet Secretary Moses Kuria has warned traffic police against soliciting bribes from motorists covered by Xplico Insurance.
This comes hours after the Insurance Regulatory Authority placed Xplico under statutory management.
In a statement, Kuria said he had received reports that a section of police officers were soliciting bribes from motorists covered by the underwriter.
"I have received reports about traffic police officers asking for bribes from PSV owners who have cover from Xplico Insurance which was only put under receivership yesterday. It's not reasonable to expect innocent policyholders to get new cover over the weekend. I have raised this issue with IG Japheth Koome. Any police officers especially around Eldoret Town who are doing this, do it at your own risk. I urge all PSV owners not to pay any bribes," Kuria stated.
Xplico under statutory management
On Friday, IRA placed Xplico Insurance Company Limited under Statutory Management.
In a statement, IRA said it has appointed the Policyholders Compensation Fund (PCF) as the Statutory Manager for Xplico Insurance Company Limited.
As a result, the underwriter has been prohibited from issuing any new insurance contracts effective December 8, 2023.
"Its existing Policyholders are advised to immediately seek alternative covers from other licensed insurers to ensure that there is no unnecessary exposure. The Policyholders Compensation Fund will compensate the affected Claimants as provided for under the Insurance Act, CAP 487 Laws of Kenya," IRA said.
IRA also announced the cancellation of the operating licence for Invesco Assurance Company Limited, which is in liquidation.