Terms & Conditions

1. Regulatory Status & Authority

Bamboo Insurance Agency Ltd ("Bamboo", "we", "us", or "our") is an authorized corporate insurance agency incorporated under the Laws of Kenya and licensed by the Insurance Regulatory Authority (IRA) in accordance with the provisions of the Insurance Act (Cap 487) of Kenya.

We are authorized to place non-life (general) and life insurance business with licensed insurance companies and underwriters operating in Kenya and international markets.

2. Scope of Intermediary Services

Our role as your appointed insurance agent involves:

• Assessing your risk management needs and advising on suitable insurance covers (Motor, Health, Life, Marine, Fire, Engineering, Travel, and Liability).
• Sourcing and comparing quotations from competitive, financially sound underwriters licensed in Kenya.
• Arranging the placement and binding of cover upon your express instruction.
• Assisting with policy documentation, endorsements, renewals, and certificates.
• Providing dedicated claims advocacy to facilitate prompt assessment and equitable claim settlements.

3. Client Obligations & Utmost Good Faith (Uberrima Fides)

Insurance contracts under Kenyan law are contracts of utmost good faith (uberrima fides). You are under a legal duty to disclose all material facts regarding the risk to be insured.

• A material fact is any circumstance that would influence the judgment of a prudent underwriter in determining whether to accept the risk and at what premium rate.
• You must provide truthful, complete, and accurate information on proposal forms, quote requests, and claim forms.

4. Quotations, Cover Placement & Policy Terms

All quotations provided by Bamboo Insurance are based on the underwriting information furnished by you. Quotations are typically valid for thirty (30) days from issuance, unless otherwise stated by the underwriter.

Cover is not bound until written confirmation, a temporary cover note, or a formal policy schedule is issued and statutory premium payment requirements are satisfied.

5. Premium Payments & "Cash and Carry" Rule

Under Section 156 of the Kenyan Insurance Act (the "Cash and Carry" rule), insurance cover cannot take effect unless the premium has been paid in full or an approved premium financing agreement (IPF) has been executed.

• Premiums must be remitted through official authorized channels (M-Pesa Paybill, designated bank accounts, or direct underwriter accounts) as communicated by Bamboo.
• All client funds received by Bamboo are maintained in accordance with IRA trust and premium accounting guidelines.
• Bamboo shall not be held liable for any loss occurring if cover is cancelled or denied due to delayed premium remittance by the policyholder.

6. Claims Notification & Documentation

In the event of an occurrence that may give rise to a claim under any policy arranged by Bamboo:

• Immediate Notification: You must notify Bamboo and/or the underwriter within twenty-four (24) to forty-eight (48) hours of the incident or discovery of loss.
• Mitigation: You must take all reasonable steps to prevent further damage or loss.
• Supporting Documents: You must furnish all required documents (such as police abstract reports, driver's statements, medical receipts, invoices, or photographs) promptly through our claims portal or via email.
• No Admission of Liability: You must not admit liability, offer, or negotiate settlement with any third party without prior written consent from the underwriter.

7. Limitation of Liability

While Bamboo Insurance Agency exercises all professional skill, diligence, and care expected of a licensed insurance intermediary:

• We are not the underwriter and do not guarantee the financial solvency of any underwriting company.
• Ultimate liability for paying claims rests with the underwriting insurance company.
• Bamboo shall not be liable for any indirect, consequential, or economic loss resulting from underwriter decisions or delays outside our direct control.

8. Intellectual Property & Website Usage

All content, branding, logos, graphics, icons, text, and layout on bambooinsagency.com are the exclusive property of Bamboo Insurance Agency Ltd and are protected under Kenyan copyright and trademark laws. You may not reproduce, modify, or distribute our site content without prior written permission.

9. Governing Law & Dispute Resolution

These Terms & Conditions and any dispute or claim arising out of or in connection with them shall be governed by and construed in accordance with the Laws of the Republic of Kenya.

Any dispute arising out of this agreement shall first be subject to mutual consultation and mediation. Failing amicable resolution, the dispute may be submitted to the Insurance Regulatory Authority (IRA) Complaints Bureau or the courts of competent jurisdiction in Nairobi, Kenya.