The registration requirements of insurance investigators is laid out in Section 150 of the Insurance Act Cap 487 of the laws of Kenya. The following are the requirements.
General Registration Requirements for Insurance Investigators
- An application in the prescribed form together with appendices. The form may be obtained from the Insurance Regulatory Authority (IRA) Offices or their website (ira.go.ke).
- The applicant should demonstrate the volume of business that is likely to be obtained and that the earning prospects are adequate.
- Demonstrate that the business in respect of which the application is made will be conducted in accordance with accepted professional standards.
- In case of a company, proof that the financial standing of the applicant is sound.
- Confirmation by the Principal Officer of the Insurer for whom the applicant proposes to act as an Insurance service provider certifying that the applicant has the knowledge and experience necessary to act as a Service Provider.
- Curriculum Vitae of the Principal Officer who shall be a partner in case of a partnership or a shareholder in case of a company.
- Registration fee Kes. 3,000 payable to the Insurance Regulatory Authority.
- A certified copy of certificate of incorporation if the firm is a limited company or a certificate of registration of business name.
- The name of the company should be in order and in line with section I90 of the Insurance Act.
Specific Requirements for Insurance Investigators
- The applicant must have passed or been exempted from Certificate of Proficiency (COP).
- The examination is offered by the College of Insurance.
- The applicant or Principal Officer should have at least two years experience in insurance.
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