Kenya Insurance Pack: What Kenya charges, caps and requires, with the instrument behind every figure

The IRA premium levy, the training levy and the Policyholders Compensation Fund, stamp duty, seventeen commission ceilings from the Eleventh Schedule, the DMVIC motor certificate scheme and the mapping to the Kenyan chart of accounts — as a country pack for the insurance apps.

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Kenya Insurance Pack in the Insurance Suites: What Kenya charges, caps and requires, with the instrument behind every figure

What Kenya charges on a premium, and what it lets you pay

Six statutory charges, each with its base, who bears it and its legal reference: the Insurance Premium Levy, the Insurance Training Levy, the Policyholders Compensation Fund contribution from the insurer and from the policyholder, and stamp duty on life and on general policies. Seventeen commission ceilings per class come from the Eleventh Schedule to the Insurance Regulations, ordinary life as a ladder by policy year, and the marine-aviation and ordinary-life ceilings hold across the whole chain however many intermediaries share the commission. Applying the pack switches the levies on, and Insurance Agency Management then refuses a commission agreement above the ceiling for its class.

Six statutory charges

Premium levy 1%, training levy 0.2%, the compensation fund 0.25% from each side, stamp duty 0.075% of the sum insured on life and KSh 40 on general policies.

DMVIC, recorded as what it is

The AKI Digital Motor Vehicle Insurance Certificate is recorded as an industry-association scheme on a central database: the number is allocated by DMVIC at issuance, the document is the authority's own PDF, it follows the policy term, and a certificate completed in any handwriting is not valid. The COMESA Yellow Card is bound beside it. This app does not connect to DMVIC; with Insurance Certificates installed, a clerk records the number obtained from the DMVIC portal, and until it is recorded the printed document is marked NOT THE STATUTORY CERTIFICATE.

What's inside

Everything in Kenya Insurance Pack

18 items in 5 areas, every one shipping with the app today.

Pack
- Cap. 487 as consolidatedThe IRA-published consolidation to Act No. 10 of 2023, with the Insurance Regulations.
- Graded sourcesEvery figure carries its instrument and whether it was read as primary or secondary.
- Ships as a templateNothing is active until the pack is applied to a company.
- Checked before it appliesFigures nobody could source are refused unless you record that you accept them.
- Review dateA pack applied past its review date says the rates should be checked.
- Adopts what is thereInstalled on a system that already held the Kenya pack, it keeps the same records.
Levies
- Insurance Premium Levy1% of gross premium, borne by the insurer, s.197A.
- Insurance Training Levy0.2% of gross premium, borne by the policyholder, s.197B.
- Compensation Fund0.25% from the insurer and 0.25% from the policyholder, s.179.
- Stamp duty0.075% of the sum insured on life; KSh 40 on accident, property and residual policies.
Ceilings
- Seventeen class ceilingsMotor 10%, fire and special perils 25%, marine cargo 17.5%, engineering and liability 20%.
- Life by policy yearOrdinary life at 50% in year one, 20% in year two and 5% from year three to ten.
- Across the chainAggregate ceilings that hold however many intermediaries share the commission.
- Refused in the agencyA commission agreement above its class ceiling is refused once the pack is applied.
Certificates
- The DMVIC schemeCentral database, number allocated at issuance, the authority's PDF, no handwriting.
- COMESA Yellow CardThe regional card, bound beside the national certificate.
Chart
- Fourteen account mappingsAn insurer's postings resolved into Kenyan chart of accounts.
- Bound on applyApplying the pack binds the levies and mappings to the chart already installed.

Works with

What Kenya Insurance Pack works with

Kenya Insurance Pack shares one database with the rest of the Insurance Suites and BridgeERP: these are the apps it already talks to, with nothing to buy in between.