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{
    "id": 736122,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/736122/?format=api",
    "text_counter": 77,
    "type": "speech",
    "speaker_name": "Hon. Wakhungu",
    "speaker_title": "",
    "speaker": {
        "id": 1889,
        "legal_name": "Chrisantus Wamalwa Wakhungu",
        "slug": "chrisantus-wamalwa-wakhungu"
    },
    "content": "Thank you. Clause 14 is about the issue of the Cabinet Secretary coming up with regulations. This is a wonderful idea because the regulations will help in terms of operationalisation of the Act. It is a good thing and when the CS comes up with the regulations, we know very well that they will pass through Parliament for purposes of checks and balances. The regulations are good because they will help in that operationalisation. I thank IRA. They have done well, but that constant monitoring and reporting is very key. I know IRA is listening wherever they are. We need to assure the investors of stability in the industry. When we have a stable insurance industry, it is going to ensure economic stability. I was very happy when the Leader of the Majority Party mentioned the issue of the minimum assets. At least it will ensure stability in the industry. We have seen many insurance firms doing this business, but when you look at their asset base, you find that stability is lacking. It becomes difficult when it comes to compensation to the common mwananchi who insures his life and assets. Another thing that I will urge insurance firms to do in terms of the products that they offer in the market is to try to segment the products. Majority of Kenyans today, particularly the The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}