Isaac Waihenya Ndirangu

All parliamentary appearances

Entries 351 to 360 of 488.

• 14 Feb 2019 in National Assembly: Hon. Speaker, according to our Constitution, it is critical that every law that is going to be made in this country be subjected to public participation. Hon. Speaker, our Committee went ahead as per the Constitution to seek views from the public. Among the participants who came to give their views are Bima Intermediaries Association of Kenya which is an association of insurance brokers, APA Insurance Limited, Britam Holdings, PLC and Association of Insurance Brokers of Kenya. view
• 14 Feb 2019 in National Assembly: Hon. Speaker, the Insurance (Amendment) Bill was published on 19th June 2018 and was read the First Time on July 2018 and committed to our Departmental Committee of Finance and National Planning. We have done the prerequisite and held public hearings. view
• 14 Feb 2019 in National Assembly: Hon. Speaker, the Bill seeks to amend the Act by introducing legal provisions creating offences on insurance fraud, including penalties intended to address the problems of insurance fraud that continue to be a major challenge to the stability of the insurance industry in Kenya. view
• 14 Feb 2019 in National Assembly: These amendments also ensure that the Act complies with the International Association of Insurance Supervision Standards on countering insurance fraud. view
• 14 Feb 2019 in National Assembly: This Bill is also intended to delegate powers to the CS to make rules governing the insurance industry and in processing this Bill, we have ensured we have reached all the important stakeholders. view
• 14 Feb 2019 in National Assembly: I will point out the important contentions about this Bill and what the stakeholders had to say. On one hand, we have the main underwriters, who are the main insurance companies, and on the other, we have the insurance brokers. The Bima Intermediaries Association of Kenya and the Association of Insurance Brokers of Kenya said that this Bill seeks to cut them off their business of insuring or being agents of insurance companies. view
• 14 Feb 2019 in National Assembly: The main insurance companies agreed that most insurance brokers misuse funds which are meant to pay premiums to Kenyans. The amendment which was most contentious is Clause 10(156). The clause is seeking that: view
• 14 Feb 2019 in National Assembly: “(1) No insurer shall assume a risk in Kenya in respect of insurance business unless and until the premium payable thereon is received by the insurer. view
• 14 Feb 2019 in National Assembly: (2) An intermediary shall not receive any premiums on behalf of an insurer. 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. view
• 14 Feb 2019 in National Assembly: (3) An intermediary who contravenes subsection (2) shall be liable to a penalty of one million shillings on each contravention, payable to the Policy Holders Compensation Fund. view