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{
    "id": 1485225,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1485225/?format=api",
    "text_counter": 89,
    "type": "speech",
    "speaker_name": "Nominated, WDM",
    "speaker_title": "Hon. Abubakar Talib",
    "speaker": null,
    "content": " Thank you, Hon. Deputy Speaker. Pursuant to the provision of Standing Order 44(2)(c), I rise to request for a Statement from the Chairperson of the Departmental Committee on Finance and National Planning regarding the abrupt termination of operation by Directline Assurance Company Limited. Hon. Deputy Speaker, on 10th September 2024, Directline Assurance Company Limited announced the immediate cessation of its insurance business operation. In the announcement, the company stipulated that any further transaction must be conducted through its original shareholders. This development has raised significant concerns about the stability of the insurance sector and the welfare of policyholders across the country. Furthermore, it has created widespread confusion and uncertainty in the market, potentially affecting thousands of policyholders and the broader public. Hon. Deputy Speaker, it is against this background that I request for a Statement from the Chairperson of the Departmental Committee on Finance and National Planning on the following: 1. Provide a comprehensive report on the Current Status of Directline Assurance Limited, including detailed information on its ownership, shareholding, and number of policyholders. 2. Clarification on the legal status and validity of insurance policies issued by Directline Assurance Company Limited, particularly on the coverage and protection of vehicles and passengers in the event of an accident. 3. Plans put in place to ensure that claims made by motor vehicle owners insured by Directline Company Limited are processed. 4. Measures being taken to ensure that all vehicles with valid insurance covers from Directline Assurance Company can operate without hindrance for the duration of their policy, validity and plans put in place to prevent future cases where the financial instability or closure of an insurance company could adversely, affect the operability of insured vehicles and the safety of passengers. Thank you."
}