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{
    "id": 871902,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/871902/?format=api",
    "text_counter": 181,
    "type": "speech",
    "speaker_name": "Ruaraka, ODM",
    "speaker_title": "Hon. T.J. Kajwang’",
    "speaker": {
        "id": 2712,
        "legal_name": "Tom Joseph Kajwang'",
        "slug": "kajwang-tom-joseph-francis"
    },
    "content": "I have a comment to do with the Policy Holder Fund. First of all, I was in the Departmental Committee on Justice and Legal Affairs that drafted the Insurance Act. I have looked back at the Act, which prescribes the policy holders, but it does not give regime for regulations. It is just fun. It does not have regulations. The Committee intends to take the penalties to this Fund. This is not correct. If this is meant to be a fine to dissuade these people from not remitting money within 30 days, then we need to make it a fine, which is payable to the Judiciary. If you want to cause that it is some kind of a feat to build the Fund, then that is not punitive. The Committee should re-look at this and see that the Policy Holders Compensation Fund is ingrained in the law in the first place with sufficient regulations and the fines should be punitive and those that dissuade the object of that legislation."
}