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{
    "id": 89237,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/89237/?format=api",
    "text_counter": 410,
    "type": "speech",
    "speaker_name": "Mr. Ngugi",
    "speaker_title": "",
    "speaker": {
        "id": 112,
        "legal_name": "David Mwaniki Ngugi",
        "slug": "david-ngugi"
    },
    "content": "Mr. Speaker, Sir, as a former Chairman of the Association of Kenya Insurers and a former Chief Executive in the industry, I cannot let this matter pass without giving a comment. First of all, I would like to support this Bill which, for a long time, we have asked for, in order to streamline the claims payments in the insurance industry. In saying so, I have a few words to say to the Deputy Prime Minister and Minister for Finance. We have an Insurance Regulatory Authority which was formerly under the Commissioner of Insurance. For many years, the Finance Minister has said that several insurance companies insuring motor vehicles have collapsed under an Insurance Commissioner. Now, there is an Insurance Regulatory Authority. When those companies collapsed, those people who had insured their vehicles were left to bear the claims. The Office of the Deputy Prime Minister and Ministry of Finance should be held responsible for the collapse of those companies. It is also the responsibility of the Government to have compensated the people who had insured the vehicles. Those insurance companies failed and yet, the Office of the Deputy Prime Minister and Ministry of Finance, through the Insurance Regulatory Authority, was there to make sure that they exercise their mandate."
}