ADVOKS GLOBAL · KENYA
Insurance Act
151. Application for Licensing
Edition: 2023-12-11 · In force
151. Application for Licensing
(1)An application for a license under section 150 or renewal of a license under section 188 shall be in the form required by the Commissioner and shall be accompanied by—(a)where the application is for a license as a broker, a professional indemnity policy of insurance in such form as may be prescribed and for such amount as may be prescribed whether as a single sum or according to a specific formula;(c)a statement of business transacted in the preceding financial year in the prescribed form;(e)such other documents as may be prescribed.(1A)Notwithstanding the provisions of subsection (1), a registered agent shall seek to be appointed by an insurer before transacting business on their behalf.(2)No person shall make a statement in an application, account, written information or document submitted under this section that is false or misleading.(3)A person who contravenes the provisions of subsection (2) shall be guilty of an offence and liable to a fine not exceeding five thousand shillings.