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{
    "id": 1521418,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1521418/?format=api",
    "text_counter": 299,
    "type": "speech",
    "speaker_name": "Kitui West, WDM",
    "speaker_title": "Hon. Edith Nyenze",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker, for giving me this opportunity to air my views on this great Bill on insurance. Let me take this opportunity to also congratulate the Member of Parliament for Molo, Hon. Kimani, for bringing such a Bill. This Bill will make provisions for the establishment of an insurance institute in Kenya that will have an examination body for insurance professionals. It will also have a board in charge of examinations, registration and regulation of standards and procedures. By doing so, the board will offer checks and balances to the institution. Therefore, the institution will be run according to the established standards, and it will regulate the insurance sector. In doing so, it will act like any other professional body for other fields like engineers, marketers, lawyers and human resource personnel. All these professions have institutes that offer checks and balances. It is also important to note that professionals will be issued practising certificates from this institution, which will help them register. That will also ensure that people who are not disciplined are not registered and de-registered through a disciplinary committee that will ensure such professionals follow the rules and procedures the institute will have set out. We have a lot of con men, quacks, and brokers who are not serious about the insurance work. They found their way into the insurance industry without the requisite qualifications. They have made people even lose trust in insurers with qualifications in the insurance industry, especially with investments. Most Kenyans doubt whether they will receive their dues when they invest through insurance. However, such an institution will give Kenyans confidence to insure their vehicles or even invest with insurance companies. They will know there is a body where they can report issues and one that ensures discipline. I know of a person who insured their vehicle with an insurance company, believing they were fully covered, only to be turned down after the car had an accident. They later discovered they were not insured because the money had not been remitted. Such an institution will ensure checks and balances and give people confidence. This is a very good body that will assure the insurers that things are being done correctly. With those many remarks, I support the Bill."
}