Insurance Regulatory Authority (IRA)

The Insurance Regulatory Authority is a statutory government agency established under the Insurance Act (Amendment) 2006, CAP 487 of the Laws of Kenya to regulate, supervise and develop the insurance industry. It is governed by a Board of Directors which is vested with the fiduciary responsibility overseeing operations of the Authority and ensuring that they are consistent with provisions of the Insurance Act. The Authority is a precursor to the then Office of the Commissioner of Insurance that came into existence with the enactment of the Insurance Act, CAP 487 in 1986. Prior to this, insurance regulation was based on the UK legislation under the Companies Act 1960. Mandate The Authority's mandate is to regulate, supervise and develop the insurance industry in Kenya. Goals 1. Promote consumer education and protection 2. Promote an inclusive, competitive and stable insurance industry. 3. Offer quality customer service.