Westgate terrorists milks insurer billions
26 September 2013, 19:25
Nairobi - Lloyd's market, the insurer of
Westgate Shopping Mall, faces a KES 6.6 billion bill in compensation following
weekend terrorist attack that killed over 60 people and left more than 200
The insurance company is expected to meet the damages of
financial institutions such as Barclays Bank, Nakumatt Supermarkets, jewellery
shops, high-end cosmetic shops, bookstores, restaurants, and boutiques housed
at the Westage Mall that lost property amounting to billions of shillings.
The company Intelligence executive at Chaucer Syndicate
Limited, Robert George, confirmed the insurance contract.
However, he declined to disclose details of the deal.
"I can confirm that we (Chaucer) did lead the insurance of the centre in Westland, George said on a mail and telephone interview from
Chaucer Syndicate Limited is the lead firm under which
Westgate complex was insured.
According to the insurance pact, Westgate is insured
against political aggression the same category in which acts of terrorism
Lloyd's market is recognized globally as an insurance
provider with nearly 90 insurers underwriting the business and accepting risks
on a competitive and shared basis.
- CAJ News