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{
    "id": 1520687,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1520687/?format=api",
    "text_counter": 281,
    "type": "speech",
    "speaker_name": "Funyula, ODM",
    "speaker_title": "Hon. (Dr) Ojiambo Oundo",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker. Looking at the time, I would have done a lot of justice. Hon. Temporary Speaker, I beg to second the Insurance Professional Bill, (National Assembly Bill No.13 of 2024). Insurance is, historically and academically, a risk transfer mechanism where a person transfers a peril to another party or organ that has the competence to compensate or to make good the sufferer in the event of a loss. On that score alone, it behoves the society and the country to make sure that all those who practise insurance, in whichever form, be they agents, insurance underwriters, assessors, and actual insurance companies themselves, exhibit some level of professionalism. That, indeed, assures the public that if I give you instructions, you will execute them in such a way that, in the event of untimely accidental event, I will be fully compensated and be put back to the position as that of before the accident or peril. For many years, this country has literally been managed by quacks in the insurance sector, as there has been no process to hold them professionally accountable for their mistakes. However, over the years, we have made tremendous efforts to amend the Insurance Act and related legislation to ensure that we protect the general public."
}