ADVOKS GLOBAL · KENYA
Insurance Act
67G. Power to protect the assets of an insurer
Edition: 2023-12-11 · In force
67G. Power to protect the assets of an insurer
(1)The Authority may, for the purpose of protecting the interests of the policy- holders, assume control of the whole or part of the insurer's assets, and shall register any instrument under the relevant law or take any other appropriate action it may deem necessary.(2)The Authority shall hold the directors of the insurer to be jointly and severally liable for the recovery of the assets under subsection (1), where it establishes that the assets of the insurer have been misappropriated.