What PI do brokers and financial advisers need in Kenya?
Insurance brokers must hold PI of at least KES 10 million per occurrence or 5% of premium income, whichever is higher, to be licensed by the IRA. CMA-licensed investment advisers must show PI of at least KES 500,000. The broker policy must cover negligence, errors, omissions, dishonesty, fraud and loss of documents.
Regulatory minimums
Insurance brokers (and medical insurance providers) must hold PI to be licensed: at least KES 10 million per occurrence or 5% of premium income, whichever is higher, with an excess of no more than KES 5,000 or 0.5% of the minimum limit (Insurance Regulations, Seventeenth Schedule).
Source: Insurance Act Cap 487; Insurance Regulations, Seventeenth Schedule (L.N. 108/2002)
Investment advisers applying for a CMA licence must show PI of at least KES 500,000 (Capital Markets (Licensing Requirements)(General) Regulations, 2025, reg. 12(3)(f)).
Source: Capital Markets (Licensing Requirements)(General) Regulations, LN 197/2025
Frequently asked questions
What PI must an insurance broker hold?
A policy covering negligence, error, omission, dishonesty or fraud and loss of documents, with a limit per occurrence of at least KES 10 million or 5% of premium income, whichever is higher, and an excess of no more than KES 5,000 or 0.5% of the minimum limit unless the Commissioner agrees otherwise.
Do investment advisers need PI?
Yes. A CMA investment-adviser licence application must include evidence of PI of at least KES 500,000.
Are my employees and partners covered?
Yes. Firm policies cover mistakes by partners and employees acting in their professional roles, and some also cover people working under your supervision. Tell the insurer about partners joining or leaving: incoming and outgoing partner extensions are available.
What does 'claims-made' mean?
Kenyan PI policies respond to claims made against you while the policy is in force, not when the mistake happened. So if you stop renewing, a claim that arrives later about past work is not covered, unless you have run-off cover. Keep your cover continuous.
Licence renewal coming up?
Tell us your licence and income. We quote cover that meets the regulator's minimum.
Licensed by IRA · No obligation · We reply within 1 hour
Sources
- Insurance Act Cap 487; Insurance Regulations, Seventeenth Schedule (L.N. 108/2002)
- Capital Markets (Licensing Requirements)(General) Regulations, LN 197/2025
- Insurer wordings (APA, GA, First Assurance, Liberty, Madison), Oct 2026
Facts and published prices checked 5 Oct 2026; last reviewed October 2026 by Naveah Capital. Prices are indicative published rates, not a quote or a promise. Naveah Capital Insurance Agency is an IRA-licensed insurance agency in Nairobi; this page is general information, and your policy wording decides your cover.
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