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{
    "id": 465286,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/465286/?format=api",
    "text_counter": 245,
    "type": "speech",
    "speaker_name": "Hon. Langat",
    "speaker_title": "",
    "speaker": {
        "id": 384,
        "legal_name": "Benjamin Kipkirui Langat",
        "slug": "benjamin-langat"
    },
    "content": "companies, when you take a policy, it is like a wedding. It is like going to wed because they come and seduce you until you accept to pay to take the policy. But the day you claim, it turns into a serious matter; it is like a funeral. You cannot get compensated. It takes time and some of them even introduce unnecessary procedures to delay the payment to the policy holders as much as possible. So, personally, I will encourage the House - because I think we are going to look at more amendments - that we make our insurance companies to be responsible to ensure that if there is a claim, it must be paid within the shortest time possible, failure to which, we may have to bring amendments to ensure that if you delay, then interest starts piling up on the claims. So, from day one, the claimed amount starts accruing interest until the day it is paid. That way, we will make them responsible and make them to say and do what they say. Hon. Temporary Deputy Speaker, basically, those are some of the reasons that these amendments have been brought before this House. I have laid the Report on the Table and I believe it is at the door there. It really analyzes the Bill clause by clause, for the convenience of hon. Members. I really do not want to talk much because these are not really controversial amendments and before we are through with the Third Reading, we will have fully consulted the stakeholders to ensure that everybody is brought on board, the way we usually do. For example, the amendment under Clause 8, which proposes amendments to Section 67C of the Principal Act, on the power of the Commission to intervene in management--- What is in the Act is that, if there is an insurance company that is having challenges, the Insurance Regulatory Authority can intervene to manage that company. But the law as it is now, the regulator can just appoint anybody. In fact, they can even appoint somebody who does not understand issues to go and manage that insurance company which is having problems. This amendment says that they can intervene, but they must get somebody who is conversant with the insurance issues. So, to me, that is a very good step forward. You cannot pick a teacher to go and manage an insurance company. You must get somebody who is conversant in that field; especially when you are dealing with a sector which is failing. Actually, you need somebody who is more conversant to bring that insurance back to normal operations. Hon. Temporary Deputy Speaker, I do not want to say much. I think I have said most of the things. I want to leave other issues to be said by hon. Members. Last week hon. Members were too ready to discuss this Bill. We disappointed them when it was withdrawn midway. I hope today, they are still as willing as they were last week, and they are still passionate to discuss this Insurance (Amendment) Bill. Hon. Temporary Deputy Speaker, I wish to move that this Bill be read a Second Time. I want to ask the Leader of Majority Party to second. Thank you very much."
}