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Mombasa Cement has won a Sh4.2 billion insurance claim against Kenindia Assurance over a collapsed silo and lost profits. [Joackim Bwana, Standard]
The High Court has ordered Kenindia Assurance Company to pay Mombasa Cement Sh4,216,836,801 in an insurance claim and accrued interest for its collapsed silo and loss of profits since 2012.
Justice Njoki Mwangi directed the Insurance company to pay the said funds comprising Sh664,767,843 for loss of blending silo and Sh982,434,033.00 for loss of profit, both covered under the Machinery Insurance Policy.
The court agreed that the proximate cause of the collapsed silo consisted of defects in materials, faulty design, faults in erection, poor workmanship and lack of skill, all of which constituted insured perils under the Machinery Insurance Policy.
