I hav been following the debate of how unprofitable psv insurance is, and there are plans to move out of the business all together and I say this does not make sense to me.

If you look at statistics personal vehicle accidents account for more than 60% of road accidents while matatu & bodaboda share the rest with bodaboda occupyig the largest share so in my opinion I think the claims that PSV insurance is unprofitable is crap.

Fraud has been blamed on this unfortunate conclusion but who is to blame is it the PSV owners or the under writers themselves.Blaming the psv industry for their woes is an escapist move that covers their inadequacies which has contributed to the meager growth of the overall industry i.e average growth of about 17% in the last 5yrs.

@mukiha I think that would be unfair something need to be done to reduce fraud which makes this segment unprofitable.

Britak interestingly thru Equity bank is getting traction in this segment I think they will reap big if they are able to tame Fraud.

So what is better: [1] to have expensive, but solid insurance, or [2] to have cheap but shaky insurance, or [3] to have no insurance at all?

When you say "something needs to be done": what would you suggest be done, and by whom?

Sometimes shock-therapy works best.

Its a good thing I never bought into Britank. Surely Motor Pool, Stallion, Blue Shield, United is enough evidence??