The Insurance Regulatory Authority (IRA) is facing criticism for neglecting to address the gross malpractices and corruption of Trident Insurance Company Limited, which has put billions of shillings from policyholders at risk claims. This comes shortly after the IRA took swift action against Directline Insurance.
IRA has not taken any action on Trident Insurance Company Limited when it’s involved in corruption, forgeries and non payment of claims.
Trident Insurance, which is owned by controversial billionaire Diamond Ali Lalji Nurani, has been operating in total disregard of the law and has been left unscathed.
Sources close to IRA revealed that Lalji has pocketed several senior officials at the IRA who deliberately overlook the gross misconduct by the billionaire businessman and his company to the detriment of the interests of millions of policyholders and beneficiaries.
Lalji and his company have been forging recommendation letters from hospitals and other institutions to win lucrative multimillion-medical insurance contracts.
For example, the naughty businessman forged recommendation letters from Nairobi Women’s Hospital, MP Shah Hospital, and Mater Misericordiae Hospital among others.
This was to help Trident Insurance Company win a tender for “Provision of MCAS and staff cover KCA/MED/02/23-24 where Trident Insurance Company was awarded a contract worth over Kshs 39,002,526.
This is after presenting a tender bid with fake documents. Sources close to Lalji informed us that he brags that no other insurance company can match his prowess in bribing tender committees in various county governments, public and private institutions.
The contract was for the provision of outpatient, in-patient, dental, optical, and maternity services. Our investigations have further revealed that EACC is actively investigating this issues.
