Professional statute overview
Enactment structure, operative effect and source provenance
01
Purpose and legislative effect
“This Act may be cited as the Insurance Act.”
This Act may be cited as the Insurance Act. An insurer is treated as carrying on a particular class of insurance business while any liability for that class remains unsatisfied. The Commissioner may, with Board approval, direct an insurer who has not issued a new long-term policy for twelve months to propose transfer or amalgamation; the Commissioner may frame transfer schemes, order investigations, or apply to the High Court; disposing or misappropriating closed fund assets is an offence with fines or imprisonment and refund obligations. An investigator may investigate affairs of associated persons for a section 9 investigation with the Board's written consent; before starting, the investigator must, if requested, serve a copy of that consent on the associated person. Investigators may require persons (including companies, bodies, associations, funds and natural persons) to assist, appear for examination and produce books; investigators may take and copy produced documents; refusing, giving false information, or obstructing is an offence punishable by a fine up to two thousand shillings; those examined must answer questions and, if they claim self-incrimination before answering, the question and answer are inadmissible in criminal proceedings except for the subsection (4) offence.
02
How the instrument operates
- 01
Start with the recorded version
As at 11 Dec 2023. The date shown identifies this source expression and should not be treated as proof that no later change exists.
- 02
Locate the controlling provision
Use the provision map, part headings and full-text filter to move from the broad subject to the exact legal language.
- 03
Read conditions and exceptions together
Keep subsections, definitions, provisos and cross-references in context before drawing a legal conclusion.
- 04
Verify currency and official wording
Confirm later legislation, commencement notices and corrections with the official publisher before advice, filing or reliance.
03
Source and current-law status
Source record view
Source record from new.kenyalaw.org · As at 11 Dec 2023
The source record does not state a definitive current-law status. Check the official publisher and later amendments before relying on this text.