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{
    "id": 1337241,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1337241/?format=api",
    "text_counter": 168,
    "type": "speech",
    "speaker_name": "Dagoretti North, ODM",
    "speaker_title": "Hon. Beatrice Elachi",
    "speaker": null,
    "content": "The other thing is excessive cost of investigations. There is a recent case where two young people had a bodaboda accident. When the case was over, they were awarded by the insurance company but the lawyers ran away with the monies of their clients. It has become an issue and that is why Kenyans lack trust in this sector. The other thing is the weak manpower that many of us are trying to see. We have many people selling insurance policies but when you walk into their offices, you find yourself questioning a lot of things. It is only the big insurance companies that are doing well. The bodaboda riders will rely more on small companies and third parties. We would like this Bill to enhance accountability and transparency in the bodaboda sector. Many of them are even unable to take that insurance, and therefore ride their motorbikes with no insurance. When they are found in challenges, they realise that they need it. When they find themselves in accidents, the same bodaboda riders will reach out to the Honourable Members to assist them get these insurances. There are also delays in claims and settlements. This is also a matter that many people in the insurance industry feel should change. Even if the sector would have thrived, you will always find many people questioning this; if one puts some money for education fund, you are told that it will take 14 or 15 years to mature so that you start the first principal. With this high cost of living, I know many people have stopped saving. The insurance companies will now start again deducting the principal. In the end, the whole insurance that you had paid for 10 years goes like that. Even as we are looking at this, we should ensure that going forward, if someone has given in their resources to an insurance company, for example, for an education fund of children, and at one point they realise they have no resources to continue, there must be a way where that money is saved so that you do not lose it completely. You should gain something and the insurance company remains with something small. Mortgage is another serious issue that we have to look at. Many Kenyans are going through this challenge. With the state that we are in, I am sure many would wish that they could walk into the bank that gave them the loan to restructure it. Sometimes, insurance companies 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."
}