Britam Pays Out Ksh 14.1 Million in Flood Insurance

Britam Group Managing Director Tom Gitogo (right) hands over Kshs 14.1 million in flooding insurance claims to Mathew Cousins - Oxfam Kenya’s Humanitarian Director, who will facilitate payment to 300 households in Madogo ward, Tana River County, insured under Britam’s Flooding Insurance Policy.
Britam Group Managing Director Tom Gitogo (right) hands over Kshs 14.1 million in flooding insurance claims to Mathew Cousins - Oxfam Kenya’s Humanitarian Director, who will facilitate payment to 300 households in Madogo ward, Tana River County, insured under Britam’s Flooding Insurance Policy.
Britam

Three hundred, Flood-affected households in Madogo Ward, Tana River County have received a major boost after Britam and Swiss Re processed Sh14.1 million as compensation for their losses.

The claim, following the recent flooding in Upper Tana, was paid under the Index-Based Flood Insurance (IBFI) policy, designed to cushion small-scale farmers residing in flood-prone areas from the catastrophic effects of floods. 

Developed using data modelling and satellite imagery to predetermine flood thresholds and provide coverage at an affordable cost, the IBFI, launched earlier this year, is a result of a partnership between Britam, Oxfam in Kenya and global reinsurer Swiss Re. 

Britam Group Managing Director and CEO Tom Gitogo said that Britam, as part of its commitment to ESG goals and its purpose of safeguarding dreams and aspirations, was working to enhance the resilience of vulnerable communities, enabling them to rebuild their lives after a disaster.