The rapid compensation highlights the critical role of effective claims management in helping businesses accelerate recovery after major losses. Richard Marisin, Managing Director, Fidelity Insurance; William Mburu, Managing Director, Powerstar Supermarket and Eric Rugo, Minet Kenya’s Risk Solutions Director, during the handover of a Sh62.16 million insurance settlement to Powerstar Supermarkets.
Minet Kenya has facilitated a Sh62.16 million insurance settlement for Powerstar Supermarket following the destruction of its Naivasha premises during an incident of political violence and rioting in May this year. The rapid compensation highlights the critical role of effective claims management in helping businesses accelerate recovery after major losses.
Fidelity Insurance, just 15 days after Powerstar Supermarket accepted the insurer’s settlement offer, issued the payout. The insurance firm played an active role in coordinating the claims process and facilitating engagement with the insurer through to payment.
“The outcome highlights a frequently overlooked aspect of business risk management. While securing appropriate insurance cover is fundamental to protecting businesses,’’ Minet Kenya’s Risk Solutions director Eric Rugo said. “The successful settlement demonstrates the importance of having an experienced partner who understands both the technical and practical dimensions of insurance claims." Incidents such as public riots reinforce the need to assess risks beyond conventional operational exposures.
Political violence, civil unrest and other disruptive events can cause extensive physical damage that interrupts trading activities and places significant pressure on cash flow. Appropriate insurance arrangements, supported by a clear understanding of policy terms and exclusions, are therefore an important component of business continuity planning.
The May incident left the supermarket’s premises completely razed, resulting in extensive property damage and the loss of merchandise.