‍3 Forms of Insurance That Can Protect Your Business During Protests in Kenya‍

Many business owners in Nairobi and major towns across the country routinely incur losses following vandalism and mass looting witnessed during protests.

According to data by the State Department for MSME Development, businesses lose Ksh3 billion per day during the protests. This figure accounts for businesses that remain closed during the protests and those that are looted.

Amid these challenges, data also shows that many Kenyans with medium and small businesses lack relevant insurance coverage that can cushion them during such unprecedented events.

Insurance companies, as a result, have developed coverage for medium and small-scale businesses in the event of protests resulting in losses and damages. This coverage falls into 3 main categories, which include;

Property Insurance 

This is an insurance cover that covers one's property, specifically a business establishment. It takes care of the loss or damage that can result from fire, theft, vandalism, natural disasters, and civil unrest.

One of the companies that offers this is the CIC Group. According to the company, this was the cover that helped Naivas Supermarket restock after damages witnessed in 2024, since they received a Ksh150 million payout.

‍Business Insurance 

Similar to the property insurance, this cover is tailored for businesses and it covers physical loss or damage directly caused by an act of terrorism, sabotage, riots, strikes, and/or civil commotion, malicious damage, insurrection, revolution or rebellion, mutiny/coup, and civil war. 

One of the institutions that offers this product is Standard Chartered in partnership with Sanlam General.

‍Property Terrorism and Sabotage 

This cover is offered by different companies and takes care of losses that result from extreme security incidents such as terrorism.

Companies that offer such a cover include Jubilee Insurance. The cover can be extended to the contents of the building and vehicles that are covered comprehensively with it.

A similar cover is provided by Britam under the Political Violence and Terrorism Insurance.

"Terrorism and political violence (PVT) insurance covers an individual or company against physical loss and damage, as well as business interruption costs, because of a terrorist act or acts of political violence such as riot, strike, civil commotion, revolution, war, civil war, rebellion, insurrection, sabotage, coup d’état and malicious damage, and consequential looting. 

"It can occur as a stand-alone cover or as part of another policy, such as Motor Vehicle insurance or Home Insurance, commonly called a rider," Britam noted in its policy guideline.

‍Charges

In terms of the charges involved, such as premiums to be paid, businesses are advised to reach out to individual companies that can give quotations for the premiums based on the size of the business. This is always finalised after the insurer assesses the business.

While taking such covers comes at additional costs to the business owners, it can cushion many from financial challenges that many experience after the protests.