PCF Announces Compensation Plan for Trident Insurance Clients Under Statutory Management
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The Policyholders Compensation Fund (PCF) has announced the commencement of a compensation plan for clients of Trident Insurance Company Limited, which is set to offer relief to policyholders and claimants with unsettled claims.
In a notice dated Tuesday, April 14, 2026, the Fund said it had begun processing compensation payments in line with its mandate under the Insurance Act.
“Notice is hereby given that Policyholders Compensation Fund, in exercise of the powers conferred under Section 179 of the Insurance Act and the Insurance (Policyholders Compensation Fund) Regulations 2010, has commenced payment of compensation to policyholders and claimants of Trident Insurance Company Limited (under Statutory Management),” read part of the notice.
Trident Insurance is currently under statutory management, a process that allows regulators to take control of struggling insurers to safeguard policyholders’ interests.
PCF Issues Guidelines on Compensation Process
Affected policyholders and claimants have been advised to submit their claims through the Fund’s online portal (http://www.pcf.go.ke/).
Applicants are required to register an account, fill in the claim form with accurate details, and upload all necessary supporting documents.
Upon successful submission, applicants will receive a claim number via email, which will be used to track the status of their application.
The claims portal officially opened on Tuesday, April 14, 2026.
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Key Conditions and Deadline
PCF has set a strict deadline for applications, warning that any policyholder or claimant who fails to submit a claim within two years from the date of the notice will lose their right to compensation.
Additionally, the Fund noted that all claims will undergo a verification and approval process in line with its guidelines. Compensation will be capped at a maximum of Ksh 500,000 per claim, in accordance with statutory limits.
Trident Insurance Company Limited was placed under statutory management on March 10, 2026, by the Insurance Regulatory Authority (IRA). The regulator chose the Policyholders Compensation Fund (PCF) to manage the company and protect the interests of policyholders and creditors.
This decision came after the company’s financial situation continued to worsen and it could not meet the required solvency standards.
Also Read: Court Petition Filed to Wind Up SACCO Giant Over Ksh 12.5B Deficit
About Policyholders Compensation Fund
PCF, a state corporation under the National Treasury, was established to compensate claimants of insurers placed under statutory management or whose licenses have been cancelled.
It ensures claimants receive compensation and helps maintain public confidence in the insurance sector.
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Trident Insurance Financial Centre. PHOTO/Business Directory.
