The Cabinet has adopted the National Insurance Policy, 2026, aimed at making insurance more affordable and accessible, particularly for farmers, informal sector workers and small businesses.
In a dispatch following a meeting chaired by President William Ruto at State House on Friday, the government said the policy would introduce reforms to strengthen consumer protection, improve oversight of insurers, promote fair business practices and combat insurance fraud.
With insurance penetration standing at 2.45 per cent, the policy also seeks to expand digital insurance services and increase access to coverage among underserved groups.
“It also seeks to protect households and businesses against financial shocks and strengthen the industry’s capacity to cover climate disasters and other emerging risks,” the dispatch read.
In a separate measure, the Cabinet endorsed proposals to improve the business environment by simplifying business licensing, reducing unnecessary regulatory barriers and attracting investment.
The meeting also supported the establishment of a European Bank for Reconstruction and Development (EBRD) office in Nairobi to expand access to investment financing.
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