A Comparison of aviation insurance to the rest of the general insurance sector in Kenya

A Research project submitted in partial fulfillment of the requirements for the degree of Bachelor of Business Science in Actuarial Science at Strathmore UniversityWith the popularity of insurance cover booming in Kenya, individuals are scrambling to acquire insurance policy to protect their property, health and loved ones in the event of their death. The premium amount charged for a given cover differs from one insurance type to another due to the difference in risk factors. For Example, for motor insurance, the make, model, year and history of the car affect the premium. For fire, the items worth at the time of cover is a risk factor. For aviation, the type of aircraft, the experience of the pilot as well as the business involved (passenger/cargo). This study's objective is to determine if aviation insurance is as risky as perceived and its comparison to other forms of general insurance. We aim to see how other forms of general insurance perform and how aviation insurance performs relative to tha