PHOTO CAPTION: Corporate Insurance Company Management Team Corporate Insurance Company is on the verge of going under, reports now suggest.
Hardly a week ago, this blog highlighted the plight of a client who strongly castigated the firm for not paying off his accident claim more than one year after a terrible incident that saw the vehicle written off.
The victim sadly narrated how the company still went ahead and sold the salvaged car. ICYMI: Client Reads Malice From Corporate Insurance In Car Accident Claim In the latest submission to nyakundireport.com , yet another frustrated client has expressed dissatisfaction with the services offered by the company following the unfortunate loss of his car in 2021.
It was covered under the comprehensive package, but up to date, he is yet to be compensated.
Word on the ground suggests the company is in turmoil and might soon face a thunderous collapse. PHOTO CAPTION: The Corporate Insurance Indian-dominated Board of Directors Just like the previous victim who reached out to us, the latest source fears that Corporate Insurance Company has gone to bed with officials at the Insurance Regulatory Authority (IRA).
They have failed to take action despite multiple complaints.
Hundreds of clients are said to be silently suffering and unable to speak out to the media. "Hello Nyakundi. There is a company called Corporate Insurance Company that has refused to pay my claims. I have contacted IRA and they are not working, kindly advise. I lost a car and I want to be compensated as I had comprehensive insurance. I have already launched a complaint with Edwin of Corporate Insurance and the IRA, one year down the line. They have cash flow problems, yet they receive premiums from other members. I am not the only one suffering, but other people maybe hawajatokea kwa media. Hope you will assist," the source writes.
Corporate Insurance Company Limited is an insurance company registered by the IRA as a Composite Insurance Company transacting both Life and General Insurance business.
It has its Registered Office and Head Office at International House, Mama Ngina Street, Nairobi, with branches in the City Centre, Mombasa and Kisumu.