TASK FORCE ON HUMAN-WILDLIFE CONFLICT COMPENSATION SCHEMES

An insurance plan to take over the compensation of the victims of human wildlife conflict is estimated to cost KES 3.5B with snakes covered and KES 1.6B without including snakes. The plan is expected to provide the following covers: Death; Bodily injuries i.e. Permanent total disability (PTD) and pain/Suffering (P&S) and medical expenses; Agriculture cover i.e. Crop damage and Livestock predation; Property coverage. The Death benefit level is a significant cost driver for this plan since it affects the death payout plus the PTD payouts. The above price estimate is based on a KES 3M death benefit. Assuming KES 5M death benefit, the price increases to KES 4.5B and 2.0B respectively i.e. increases of 27% and 20% respectively…..read more