IRA Class 37 · General
Miscellaneous Financial Loss in Kenya
Catch-all cover for niche financial losses under IRA Class 37.
What does Miscellaneous Financial Loss cover?
Covers financial losses not classified under another class - event cancellation, contingency, prize indemnity, mortgage protection and similar.
Who needs Miscellaneous Financial Loss?
Event organisers, marketing teams running prize promotions and lenders.
Examples of Miscellaneous Financial Loss policies in Kenya
- Event cancellation
- Prize indemnity
- Contingency cover
Frequently asked questions
When is event cancellation cover relevant?
For conferences, concerts and sporting events where loss of revenue and unrecoverable costs would be significant.
Regulation
Miscellaneous Financial Loss is licensed under Class 37 of the Insurance Act (Cap 487) and supervised by the Insurance Regulatory Authority (IRA). Only insurers holding a current Class 37 licence may underwrite this cover in Kenya.