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{
    "id": 465312,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/465312/?format=api",
    "text_counter": 271,
    "type": "speech",
    "speaker_name": "Hon. S.S. Ahmed",
    "speaker_title": "",
    "speaker": {
        "id": 140,
        "legal_name": "Ahmed Shakeel Shabbir Ahmed",
        "slug": "shakeel-shabbir"
    },
    "content": "Hon. Temporary Deputy Speaker, the Bill before us basically seeks to ensure that policy holders are not swindled any more. In 2008, when there was violence and other things in Kisumu, certain insurance companies decided that they would not meet the claims that arose from that situation. They came up with some vague conditions like saying that riots and other things were not covered by them. At this moment in time, the insurance companies that are operational do not entertain matatu vehicles and other commercial vehicles. Where they do they charge very high insurance premiums. If you want to insure your car right now, even if you are a legislator or a very senior business person, you are required to pay up to 6 per cent of the value of your car. I think that is a huge premium. It is one of the highest rates of insurance in this part of the world. Compared with insurance covers in other countries, ours is excessive and yet, when it comes to insurance claims, insurance companies in this country are the worst. They have been telling us that they are self-regulatory. In fact, for them, “self-regulation” means “self-satisfaction”. I am pleased to see that the Commissioner for Insurance no longer plays such an important role and that there is a regulatory board. Again, we feel that the regulatory board must be more effective and operate as such. It should not allow insurance companies to get away with what they always try to do at the expense of"
}