27 Feb 2019 in National Assembly:
This amendment is meant to recognise the fact that we had earlier on introduced a new arrangement where insurance intermediaries are supposed to remit premiums within 30 days, failure to which there were some penalties which followed. We also thought of introducing this new clause to manage the issue of insurance commission, which is payable to the intermediaries. Therefore, this amendment sets out that insurance companies should pay insurance intermediaries within 30 days and also specifies the penalties which will be meted on insurance companies which fail to pay the commission to the intermediaries. This will ensure that there is ...
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27 Feb 2019 in National Assembly:
I beg to move.
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27 Feb 2019 in National Assembly:
I beg to move.
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27 Feb 2019 in National Assembly:
Hon. Temporary Deputy Chairlady, I beg to move: THAT
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27 Feb 2019 in National Assembly:
Hon. Temporary Deputy Chairlady, I beg to move: THAT
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27 Feb 2019 in National Assembly:
Hon. Temporary Deputy Chairlady, I beg to move: THAT, Clause 2 of the Bill be amended ─ (a) by deleting the definition of the term “insurance fraud”; (b) by deleting paragraph (b) and substituting therefor the following paragraph─ (b) in the definition of “insurance business” by inserting the following new paragraph immediately after paragraph (d)─ (e) micro-insurance business; (f) social insurance schemes. The justification for this is that we are introducing the definition of “insurance fraud”. Two, we are also including two other businesses in insurance, which is microinsurance, to deal with lower population, and social insurance schemes, which will ...
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27 Feb 2019 in National Assembly:
Hon. Temporary Deputy Chairlady, I beg to move: THAT, Clause 2 of the Bill be amended ─ (a) by deleting the definition of the term “insurance fraud”; (b) by deleting paragraph (b) and substituting therefor the following paragraph─ (b) in the definition of “insurance business” by inserting the following new paragraph immediately after paragraph (d)─ (e) micro-insurance business; (f) social insurance schemes. The justification for this is that we are introducing the definition of “insurance fraud”. Two, we are also including two other businesses in insurance, which is microinsurance, to deal with lower population, and social insurance schemes, which will ...
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27 Feb 2019 in National Assembly:
Hon. Temporary Deputy Chairlady, I beg to move that the Committee do report to the House its consideration of the Insurance (Amendment) Bill (National Assembly Bill No.21 of 2018) and its approval thereof with amendments.
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27 Feb 2019 in National Assembly:
Hon. Temporary Deputy Chairlady, I beg to move that the Committee do report to the House its consideration of the Insurance (Amendment) Bill (National Assembly Bill No.21 of 2018) and its approval thereof with amendments.
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21 Feb 2019 in National Assembly:
On a point of order, Hon. Speaker.
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