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{
    "id": 915332,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/915332/?format=api",
    "text_counter": 289,
    "type": "speech",
    "speaker_name": "Seme, ODM",
    "speaker_title": "Hon. (Dr.) James Nyikal",
    "speaker": {
        "id": 434,
        "legal_name": "James Nyikal",
        "slug": "james-nyikal"
    },
    "content": " Thank you, Hon. Temporary Deputy Chairman. I do not support the Committee on this. The whole essence of this is the existence or the non-existence of brokers. The Bill says that an intermediary shall not receive any premium on behalf of an insurer. What then will you do with a broker? The big insurance companies are just going to form a cartel and kill the companies. That is what happened in the oil industry. We cannot have these proposals which have a double meaning. It is also saying that they shall not receive and on (iv), it is assuming that the insurers are such good people that they will pay while they are saying the brokers shall not pay. The Bill also says that if you have said they will not receive, the issue of no insurance shall receive a risk in Kenya in respect of business until the premium received becomes inconsequential. So, the whole thing is not consistent. The main thing is that I do not see insurance brokers surviving. You do not kill a whole industry to correct wrongs. Put punitive measures to let the industry work."
}