ADVOKS GLOBAL · KENYA
Insurance Act
146. Power to decline business
Edition: 2023-12-11 · In force
146. Power to decline business
(1)The Company may refuse to accept any reinsurance offered pursuant to this Part, and in that case the Company shall furnish the insurer concerned, if so requested, the reasons for its refusal.(2)An insurer may, within fourteen days after receiving reasons for refusal under this section, appeal to the Tribunal against the refusal, and thereupon the Tribunal may confirm the refusal or may direct the Company to accept the reinsurance concerned, and any decision of the Tribunal on an appeal shall be final and conclusive.(3)Where reinsurance is refused under this section any liability of the insurer under this Part in respect of that reinsurance shall cease.