The Policyholders Compensation Fund (PCF) has opened a long-awaited compensation window for policyholders and claimants of Trident Insurance Company Limited.
- •Effective April 14, 2026, the Fund has activated its digital claims portal, unlocking payouts for affected customers under its statutory mandate to cushion policyholders when insurers collapse or are placed under management.
- •In a notice issued by the Managing Trustee, PCF set a compensation ceiling of Ksh 500,000 per verified claim, underscoring the statutory limits governing payouts.
- •The compensation rollout follows decisive action by the Insurance Regulatory Authority (IRA), which in March placed Trident, KUSCCO Mutual Assurance Limited, and Corporate Insurance Company under statutory management after prolonged solvency concerns.
Claimants have a strict two-year window to file, with the deadline falling in April 2028. Any applications submitted beyond this period will be automatically ineligible, placing urgency on affected policyholders to act.
Despite sustained supervisory engagement, the firms failed to restore capital adequacy thresholds, triggering regulatory intervention.
PCF has since assumed control of the affected insurers’ operations, with a mandate spanning liability audits, claims verification, and orderly resolution of obligations.
The commencement of payouts is expected to serve as a litmus test for confidence in Kenya’s insurance market, which has faced rising scrutiny over governance and solvency gaps.
