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{
    "id": 934492,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/934492/?format=api",
    "text_counter": 851,
    "type": "speech",
    "speaker_name": "Nominated, JP",
    "speaker_title": "Hon. (Ms.) Cecily Mbarire",
    "speaker": {
        "id": 13166,
        "legal_name": "David Ole Sankok",
        "slug": "david-ole-sankok"
    },
    "content": "Clause 3 of the Bill proposes to repeal Section 43A of the Insurance Act in order to harmonise the provisions of the Act with the requirement of capital adequacy as introduced by the Insurance (Amendment) Act No.50 of 2016. The concept of capital adequacy replaced the application of the concept of admitted assets and liabilities in determination of the capital of an insurer. Clause 4 seeks to introduce a penalty for the insurers and intermediaries for failure to The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor."
}