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{
    "id": 231870,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/231870/?format=api",
    "text_counter": 268,
    "type": "speech",
    "speaker_name": "Mr. Kimunya",
    "speaker_title": "The Minister for Finance",
    "speaker": {
        "id": 174,
        "legal_name": "Amos Muhinga Kimunya",
        "slug": "amos-kimunya"
    },
    "content": " Mr. Temporary Deputy Chairman, Sir, I beg to move that the following new clause be inserted immediately after Clause 21 as follows:- Repeal and Section 203 of Cap.487 21A. The principal Act is amended by repealing Section 203 and replacing it with the of following new section- Settlement of claims 203 (1) Where the claimant has submitted all the relevant documents, every insurer shall, in respect of claims arising out of policies of insurance issued by it- (a) admit liability; (b) determine the amount due; (c) establish identity of the claimant; and (d) pay claim, within ninety days from the date of reporting claim: Provided that if, for any reason, insurer is unable to pay the claim within the period specified under this subsection, the insurer shall apply to the Commissioner for an extension of time, and the Commissioner may grant such an extension of time not exceeding thirty days. (2) Where an assessment of the claim has been carried out, a copy of the assessment report shall be made available to the claimant. (3) Where the Commissioner is satisfied that undue delay is being, or is likely to be, experienced by claimant in the settlement of the claimant's claim, the Commissioner shall, after giving the insurer a reasonable opportunity of being heard, direct the insurer to expedite settlement of the claim. The importance of this is to ensure that insurance companies are limited in the time they take to pay a claim after they to pay a claim after they receive it."
}