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1.0 Introduction

Policyholders Compensation Fund (PCF) is a State Corporation set up pursuant to Section 179 of the Insurance Act. The Fund was operationalized vide Legal Notice No. 105 of 2004.

The Act clearly sets out the mandate of the Fund. This is further elaborated in the Policyholders Compensation Fund Regulations, 2010. The decision to establish the Fund was a key initiative in the reform of the insurance sector. Its primary purpose is to protect policyholders of insolvent insurers by providing them with compensation for unsettled claims. The maximum compensation payable by the Fund on any one claim lodged by a claimant is Kshs. 250,000.00.

PCF’s functions include:

a. Protection of insurance consumers through the payment of compensation to claimants of an insolvent insurer.

b. Participation in statutory management of troubled insurers.

c. Undertake liquidation of a wound-up insurer

d. Facilitate the formulation of related policy.

Currently, Concord Insurance Co. Ltd (In Liquidation) and Standard Assurance Co. Ltd (In Liquidation) are undergoing liquidation. The unsettled claims of these two (2) insurers represent the immediate priority for compensation payments to their claimants.

2.0 Compensation of Claimants

The Fund is currently undertaking compensation of the policyholder claims of Concord Insurance Co. Ltd and Standard Assurance Co. Ltd who are currently undergoing liquidation. In this regard, all claimants of Concord and Standard Assurance Co. Ltd are required to:

i) Download the claims form from PCF website (, IRA website ( or pick the form from PCF offices 2nd Floor, Zep Re Place,
Longonot Road).

ii) Fill the form in duplicate and attach copies of the required documents.

iii) Submit to PCF for verification, approval, and processing for payment.

iv) Submissions will be accepted from 9:00am Monday-Friday

v) Advised to lodge their claims strictly within the timelines issued in the public notice


The process of verification and approval for payment will take approximately 30 days. This will be done in line with the Fund’s guidelines and procedures. Claimants are requested to exercise patience as the process is undertaken. 

Managing Trustee

Policyholders Compensation Fund

Tel: 020 499 6236/7/8



Commissioner of Insurance 

Insurance Regulatory Authority

Tel: 020 4996000/701 



Click the below link to view and download the Public Notice on Partial Settlement of Concord Insurance Co. Ltd and Standard Assurance Co. Ltd (In Liquidation) Policyholder Claims.