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{
    "id": 1337266,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1337266/?format=api",
    "text_counter": 193,
    "type": "speech",
    "speaker_name": "Kabondo Kasipul, ODM",
    "speaker_title": "Hon. Eve Obara",
    "speaker": null,
    "content": " Thank you very much, Hon. Temporary Speaker, for the opportunity to add my voice to this amendment Bill which I support. All of us understand what insurance is all about. When we take it, we expect it to reduce the impact of loss and provide monetary reimbursement during crisis. The reality on the ground for many people is that these companies appear big and able to reimburse when a loss occurs but that does not happen for the simple reason that books are usually doctored. What appears to be their turnover is usually not the case. That is why many Kenyans have lost money when they have crisis in their businesses, insurance of motor vehicles and when their property is burnt down. I have also been a victim of these circumstances. We have the IRA and if they did their work in the manner they are supposed to, these issues would not be occurring. We have the Retirement Benefits Authority (RBA) for pension schemes. Why are some companies unable to pay pensions? I agree with the Committee’s amendments of having penalties instituted against companies which do not honour claims. At the same time, I think we are over regulating this sector. I believe if the regulatory authorities did their work, we would not be getting all these complications and problems coming up. Once again, I support but emphasise that the regulatory authorities must do their work. Thank you very much, Hon. Temporary Speaker."
}