Nairobi, April 8 -- The only reason people seek insurance and pay handsome premiums is so that they can be protected from possible losses. The cover comes in handy in case of accidents or health emergencies, offering peace of mind.

Even if the premiums are often high, the financial sacrifice is a crucial investment to avoid crippling costs from unforeseen occurrences. This is a vital safety net for individuals and businesses to mitigate significant risks. Insurance is also a vital tool for long-term security, especially to cushion families against the financial burden of unexpected death or illness.

Therefore, it is unfair to punish clients when the insurance companies they have bought cover from collapse or are put under receivership....