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{
    "id": 867102,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/867102/?format=api",
    "text_counter": 269,
    "type": "speech",
    "speaker_name": "Roysambu, JP",
    "speaker_title": "Hon. Isaac Ndirangu",
    "speaker": {
        "id": 2701,
        "legal_name": "Isaac Waihenya Ndirangu",
        "slug": "isaac-waihenya-ndirangu"
    },
    "content": "The principal object of the Bill is to amend the Insurance Act to address the adverse selection and high costs of loss assessment related to traditional indemnity-based agriculture insurance by providing for index-based insurance as an alternative with intention to reduce hazard, adverse selection, underwriting and claim assessment costs while speeding up claim settlements. In addition, the Bill seeks to amend the Act by introducing legal provisions creating offences on insurance fraud. These include penalties intended to address the problem of insurance fraud that continue to be a major challenge to the stability of the…"
}