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{
    "id": 1077258,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1077258/?format=api",
    "text_counter": 118,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "Classes of long-term insurance business were amended in 2009 to align with modern classification and bring into perspective the industry's current size. However, the permitted maximum management expenditure was not updated to match the new classification which causes insurers to either over-estimate or under-estimate the management expenses thus impacting negatively on policyholders. I, therefore, propose to amend the insurance regulations to provide for the maximum permitted expenditure for each category."
}