Isaac Waihenya Ndirangu

All parliamentary appearances

Entries 361 to 370 of 488.

• 14 Feb 2019 in National Assembly: (4) Any officer or director of an intermediary who contravenes subsection (2) shall be guilty of an offence, and upon conviction should be liable to a fine not exceeding one hundred thousand shillings or to an imprisonment term of three months, or to both.” view
• 14 Feb 2019 in National Assembly: When we called the insurance companies, they regretted that some of the insurance brokers are dishonest. They receive payments from clients, sit on them and fail to submit the fees. This becomes like a con game where a client pays for insurance, but the broker, through whom he has obtained the insurance, does not remit the premiums. Due to this concern by insurance companies or underwriters, they wanted an amendment to this clause to go through. view
• 14 Feb 2019 in National Assembly: However, after having a sitting with them, we sought to get a middle ground between the insurance brokers and the main underwriters. We made recommendations which will be effected through the amendment. These amendments are as follows: The contentious Clause 10(156) should be reworded to state that: “No insurer shall assume a risk in Kenya in respect of insurance business unless and until the premium payable thereon is received by him or is guaranteed to be paid by such person in such manner and within such time as maybe prescribed or unless and until a deposit of a prescribed amount ... view
• 14 Feb 2019 in National Assembly: We have also attempted to decriminalise the handling of premiums by insurance brokers. When you criminalise handling of premiums by insurance brokers, it means you are getting them out of business. Therefore, thousands of insurance brokers will be rendered jobless. So, we have to appreciate that some insurance brokers have sustained the insurance companies because they are able to reach clients in small and big enterprises and also carry out marketing. As a Committee of Parliament, we are begging not to be the ones killing the relationship between the underwriters and insurance brokers. Let no one put this relation asunder. ... view
• 14 Feb 2019 in National Assembly: Equally, there are insurance companies and underwriters who delay to pay commissions to the insurance brokers. We have recommended to subject them to Section 156(a), which proposes that an insurer shall pay an intermediary an insurance commission within 30 days of receipt of premiums. The import of this is to compel insurance companies and underwriters who delay commissions up to two or three months to pay the insurance brokers who have taken business or premiums to them to ensure that they pay up the commissions within 30 days. So, we have said that what is good for the goose is ... view
• 14 Feb 2019 in National Assembly: Thank you, Hon. Temporary Deputy Speaker. I want to thank the Members who have contributed to this Bill. I, specifically, want to thank the Member for Ruaraka, Hon. ‘CJ’; Member for Tharaka, Hon. Murugara; Member for Seme, Hon. Nyikal; Hon. Ferdinand Wanyonyi; and the Member for Nyeri Town, my home constituency, and any other Member. view
• 14 Feb 2019 in National Assembly: Hon. TJ, Hon. Temporary Deputy Speaker. In the backstreet we call him “CJ”. I also want to thank the secretariat which worked day and night and all members of the Departmental Committee on Finance and National Planning for working round the clock to make sure that this Bill is completed and presented to this House. I invite Members to also support our amendments during the Third Reading of this Bill. I want to hail this particular Bill because it introduces index-based insurance which will require an insurer to make payment to a policyholder without the need for an actual assessment ... view
• 14 Feb 2019 in National Assembly: case of livestock insurance. Such insurance will protect farmers from poor crop yields and from the vagaries of weather. Rainfall is quite erratic these days. Currently, policyholders are required, at the maturity of policy terms, to publish in the view
• 14 Feb 2019 in National Assembly: where policy document is lost before they can be compensated. This leads to delayed settlement of claims and reduced benefits to the policyholder, especially where the amount claimed is relatively low. So this Bill, in order to address the situation, seeks to remove this requirement and replace it with swearing of an affidavit by the claimant. This will facilitate expeditious settlement of claims and protection of the policyholder’s benefits. As I close my reply, I wish to also recognise and thank the Speaker who was in the Chair before you for welcoming the land and freedom fighters who were seated ... view
• 14 Feb 2019 in National Assembly: Recently, when the Head of State was awarding honours and national commendation, he also honoured the widow of Field Marshal Dedan Kimathi. I have also learnt that recently the Government of Theresa May released the papers for prosecution of the late Field Marshal Dedan Kimathi and are now with the Judiciary. I am making an appeal to His Excellency the President of the Republic of Kenya.... view