GA Insurance has blacklisted seven vehicle models from underwriting following loss trends.
The seven models, Toyota Probox, Toyota Succeed, Toyota Sienna, Toyota Passo, Toyota Porte, all Suzuki models with values below Sh1 million will not be insured by the company due to high number of accidents involving the vehicles.
“After a comprehensive review of our motor private book, and the loss trends, we wish to communicate that there are vehicles whose usage has been misemployed and, therefore, have proven to be a challenge when settling claims,” said GA Insurance Business Development Manager Kenneth Kagira in a letter to all its business partners.
A representative of GA Insurance told a local media station that the motorists driving the listed vehicles are prone to causing accidents which has subjected their business to losses.
“A significant number of motorists driving the listed vehicles are prone to causing accidents. This has subjected our business to losses in respect to the listed vehicles. And many people who seek insurance for the vehicles apply for private covers, only to use the vehicles for public transport, which is riskier. At times, you’d come across a compensation claim, only to realise that the vehicle, listed for private use, was transporting passengers at a fee during the accident,” the representative said.
GA Insurance Limited is one of the oldest insurance companies operating in the country underwriting all classes of general and medical insurance.
