Senator Sifuna decries non-settlement of insurance policy maturity claims by Corporate Insurance Company Limited 

𝐏𝐚𝐫𝐥𝐢𝐚𝐦𝐞𝐧𝐭 𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠𝐬 
𝐅𝐫𝐢𝐝𝐚𝐲, 𝟐𝟏𝐬𝐭 𝐌𝐚𝐫𝐜𝐡 𝟐𝟎𝟐𝟓 

Sen. Edwin Sifuna has raised concerns about the non-settlement of insurance policy maturity claims by Corporate Insurance Company Limited.

While seeking a Statement from the Standing Committee on Finance and Budget yesterday, Senator Sifuna asked the Committee to report to the Senate the total value of outstanding insurance policy maturity claims at Corporate Insurance Company Limited, including the duration for which these claims have remained unpaid and the number of affected policyholders.

He tasked the Mandera Senator Ali Roba-led Committee to explain the causes of the delay in settlement of the claims and the timelines for resolving the issue.

The Finance Committee will subsequently report on the current financial position of Corporate Insurance Company Limited, including whether the company is stable enough to guarantee the security of existing insurance policies.

In the same breath, the Nairobi County Senator sought another Statement from the Standing Committee on Education regarding the delay and failure to remit capitation funds to public schools currently amounting to Kshs. 64 billion in arrears.

In the request, Senator Sifuna asked the Senator Betty Montet-led Committee to address the reasons why the National Treasury has failed to release capitation funds despite the urgent cash flow challenges facing public schools.

“While responding to the request, the Education Committee should outline the long-term strategies in place to prevent delays in the disbursement of capitation and ensure continuous funding for school operations, infrastructure, and payment of suppliers,” Senator Sifuna said. 

The Committee will investigate the matter and outline the safeguards being implemented to protect school principals and management from potential legal and financial liabilities due to unpaid suppliers and increasing pressure from stakeholders.