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APA Insurance Blacklists 28 Car Models From Being Covered

BY Juma · November 8, 2022 10:11 am

KEY TAKEAWAYS

Toyota models include Wish, Vitz, Probox, and Fielder. The Honda models include Stream, Fit, and Airwave. The Suzuki models include Swift while Mazda includes Demio and Axela), and Nissan includes Tiida, Vanette, and Wingroad.

APA Insurance has blacklisted 28 models from its comprehensive insurance coverage. The company says the owners of the car models have a tendency of misusing them, hence more expensive to cover.

The 28 models that have been blacklisted include those within Toyota, Honda, Maruti, Mazda, Nissan, and Suzuki cars. APA becomes the second insurance provider in Kenya to blacklist specific kinds of cars after GA Insurance which did the same last week.

Among those blacklisted, Toyota models include Wish, Vitz, Probox, and Fielder. The Honda models include Stream, Fit, and Airwave. The Suzuki models include Swift while Mazda includes Demio and Axela), and Nissan includes Tiida, Vanette, and Wingroad.

“Like many other underwriters, we do not insure vehicles that can be used to carry passengers. These have to be insured as taxis/buses,” said Mr. Ashok Shah, the CEO of APA Insurance. “The models are blacklisted due to the wrong usage of the subject vehicles.”

Here is the list:

Last week, GA Insurance Limited announced that moving forward it will not provide insurance services to at least 6 car models, becoming the first insurance company in Kenya to make it clear the type of car model that it cannot cover.

The 6 vehicle models blacklisted by GA Insurance are Toyota Probox, Toyota Succeed, Toyota Sienta, Toyota Passo, Toyota Porte, and all Suzuki models with values below 1 million shillings.

Insurance uptake in Kenya has remained low with the insurance penetration coming in at 2.2% as of December 2021, mainly attributable to the fact that insurance is still seen as a luxury and is mostly taken when it is necessary or a regulatory requirement.

“Despite the constrained business environment arising from elevated inflation and global supply chain constraints, the insurance sector showcased resilience and recorded a 13.2% growth in gross premiums to Kshs 163.1 bn in H1’2022, from Kshs 144.0 bn in H1’2021.

Loss and Expense Ratios across the sector eased, and consequently, the weighted average Combined Ratio improved to 126.8% in H1’2022, from 146.6% in H1’2021.

Juma is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it. (020) 528 0222 or Email: info@sokodirectory.com

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