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{
    "id": 1004894,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1004894/?format=api",
    "text_counter": 306,
    "type": "speech",
    "speaker_name": "Kikuyu, JP",
    "speaker_title": "Hon. Kimani Ichung’wah",
    "speaker": {
        "id": 1835,
        "legal_name": "Anthony Kimani Ichung'Wah",
        "slug": "anthony-kimani-ichungwah"
    },
    "content": " Thank you, Hon. Temporary Deputy Chairman. Let me thank Hon. Odhiambo-Mabona for that intervention because it gives me a chance to explain. I honestly had assumed that since the Chair had already moved the amendment and it is largely the same amendment that we recommitted… The reason for the re-committal was simply that we wanted to achieve at least three things. One, to ensure that when you pay premiums for your medical cover or car, the person who assumes the risk is not the broker or the intermediary, it is the underwriter. Therefore, the underwriter ought to have received his money from the broker. So, the import of the amendment by the Chair is ensuring — if you read Sub-section 1, the one I read in the morning, it says no insurer will assume risk in Kenya, unless the insurer has received premiums payable. How do you ensure that the insurer has received? Sub-sections 2 and 3 are ensuring that upon receipt of money from you, as an insured person, the broker remits the money to the underwriter and there are penalties that have been stipulated if that broker does not do that. However, the further amendment that I have now added because I added Sub-section 5, if you look at what the Chair had and what I have done, that is further to Sub-section 4. Sub-Section 4 says that an intermediary who contravenes Sub-section 3 on non-remittance of premiums, shall be liable The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}