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{
    "id": 736146,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/736146/?format=api",
    "text_counter": 101,
    "type": "speech",
    "speaker_name": "Hon. F.K. Wanyonyi",
    "speaker_title": "",
    "speaker": {
        "id": 2065,
        "legal_name": "Ferdinard Kevin Wanyonyi",
        "slug": "ferdinard-kevin-wanyonyi"
    },
    "content": "Thank you very much. I was greeting my friend, Hon. Eng. Gumbo and wish him well to what just happened. Hon. Speaker, I want to support this amendment. First, Section 31 of this proposal is quite explicit and I think if this is implemented, that thing will be good. The fact that the licensing board, at least, will not license any insurance company unless it is satisfied that the capital and the assets are adequate is one thing that is good in this amendment. It will deter cases where if such insurance companies happen to insure some clients, there will be massive losses. The insurance companies will have reserves at the Central Bank. This is something which I think is quite good because we have had cases where an insurance company goes under because there are so many claims on the part of the company and it is not able to meet the obligations. I quite agree that the board must be satisfied that the people actually working in that particular insurance - save, of course, the brokers and the agents--- But the staff must have qualifications for those 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."
}