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{
    "id": 1337274,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1337274/?format=api",
    "text_counter": 201,
    "type": "speech",
    "speaker_name": "Funyula, ODM",
    "speaker_title": "Hon. (Dr) Ojiambo Oundo",
    "speaker": null,
    "content": "in the Nairobi Stock Exchange is minimal. In many organisations, the level of involvement of a shareholder is minimal. That is why I concur that, during the Committee of the whole House, we must make an amendment to omit the shareholder under the proposed New Section 67(h). It will also be important to further amend this Section to include… There are many interesting situations. You can believe that you have your insurance cover after paying your premium and meeting all the conditions of the policy. However, when time comes for making a claim, you will be told that something happened that invalidated your policy. You will be told that you delayed in remittance of premiums yet you paid them in good time. It is at that point that an insurance provider declines to honour the insurance cover. As my colleagues have mentioned, the unprofessional behaviour of many players in the insurance industry has made Kenyans to be the least insured. Actually, in most cases, Kenyans take insurance covers that are mandatory. They will always say why bother paying for a premium and when something happens you will never be compensated. I can assure you that if you did a census in this country, you will find that 90 or 70 per cent of the motor vehicles that we have, are insured with third party. Many of the motor vehicle owners believe that being compensated for even a minor accident that is already included in the policy is a long process that does not warrant any kind of intervention. I support the Insurance (Amendment) Bill. However, I will move some basic amendments in the Committee of the whole House. With those few remarks, I support."
}