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{
    "id": 1521410,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1521410/?format=api",
    "text_counter": 291,
    "type": "speech",
    "speaker_name": "Eldas, JP",
    "speaker_title": "Hon. Adan Keynan",
    "speaker": {
        "id": 41,
        "legal_name": "Adan Wehliye Keynan",
        "slug": "adan-keynan"
    },
    "content": "The third component of this Bill is consumer protection. What safeguards do we have for the many vulnerable insurance seekers? A well-regulated insurance industry directly benefits the consumer. This makes the Kenyan insurance industry competitive in Kenya, regionally, and globally. This is one status that Kenya has been attempting to acquire over the years. This will minimise the risk of fraud, misrepresentation and malpractices. The Bill attempts to ensure that only qualified insurance professionals are allowed to practise. Hon. Temporary Speaker, the other bit is industrial growth. What do we expect from this Bill? Kenya has a struggling economy. We are not supposed to be where we are today. We are supposed to be a leading nation in every sector. The insurance sector is one of the critical components that has also been struggling. Therefore, this regulatory framework that emphasises professionalism and ethical conduct catalyses sector growth. By instilling sector confidence and fostering best practices, the Bill attempts to position Kenya as a critical insurance sector in Kenya, East Africa, South of Sahara, the African continent and globally. This is the status that each of us must be proud of. However, there are certain gaps that we must also look at. How is this generous institution…"
}