Invesco Assurance Company now claims it has flagged fraudulent cases worth Sh600 million that have hurt its finances. In its new filings seeking to halt all insurance claims until investigations are concluded, the firm alleges its investigations have unearthed more than 2,000 factious claims. “All four remaining major Public Service Vehicles (PSV) underwriters are inundated with bogus claims and abnormal claims,” Invesco’s Legal Manager Paul Gichuhi claimed. The acquisition of the insurer by matatu owners was expected to turn around its fortunes. Invesco also had to contend with fraud claims brokered by rogue insurance brokers and agents who owe the firm over Sh300 million.

Source: Standard Digital September 28, 2020 21:00 UTC