Hon Peter Kimari Kihara

All parliamentary appearances

Entries 21 to 30 of 106.

• 30 Mar 2022 in National Assembly: The other issue is registration. Just like banks, insurance industry collects money. It pools resources from Kenyans to ensure risks can be managed at the right time. When they have losses, they can be managed. It is the pooling of resources that can lead to it being understood very clearly. We need to understand some risks can be enormous and need to be properly managed. We have insurance companies, agents, brokers, reinsurance companies and all these have institutions that manage what they do and what they need to do at the right time. We passed a law in this House ... view
• 30 Mar 2022 in National Assembly: laws that have already been set by this House, in terms of ensuring that the public do not feel cheated. If you have a car that has had an accident, you must be compensated on time. If, for instance, you have a house that is burnt, you need to ensure the proper channels have been followed. We have assessors and loss adjusters. There are so many organisations that play a very vital part in the insurance industry. view
• 30 Mar 2022 in National Assembly: We, therefore, cannot remove regulation and registration from the National Treasury and the Central Bank because they are pooling resources from the public in terms of capitals insurance companies can have, as they are set by Government through the relevant organisations. Like the Insurance Regulatory Authority has been playing a very important task. What we need to ensure is the management of those players in the field. For me, that is extremely important. view
• 30 Mar 2022 in National Assembly: The other function that needs to be strengthened – I support Washiali on this is penetration of the insurance covers. The penetration of insurance covers in this country is very low. It is currently at around 6 per cent. How can we ensure that Kenyans know the products that are available particularly products that will help them in terms of saving for the future? There are products that are very important. If you go to South Africa, for instance, more of their population take life covers than the general covers. In Kenya, it is the reverse. We have people wanting ... view
• 30 Mar 2022 in National Assembly: The other issue I support is discipline. Discipline is extremely important in any industry. An organisation like this can come in handy to ensure that they manage discipline and to ensure that all the key players understand their key roles and perform those roles within their mandate that they have been given. view
• 30 Mar 2022 in National Assembly: Research and promotion of products is also extremely important. Publishing of books that can be used and materials can be regulated through an organisation like this. But, let us ensure other stakeholders are consulted. For instance, we have Association of Insurance Brokers where I have personally served in the past as a board. We need to ensure that an organisation like that is given teeth to manage insurance brokers. We have an organisation like the Association of Kenya Insurers (AKI) which manages the affairs of insurance companies. Can we ensure that they have enough powers to regulate underwriters and reinsurance? ... view
• 30 Mar 2022 in National Assembly: Thank you Hon. Temporary Deputy Speaker for allowing me to comment. I urge Washiali, now that we support the Bill; but please, bring all these players to a round table. It will be important to also hear and take their views so that we can understand what each organisation does in the value chain of the insurance industry and that way we will have a Bill that will help the entire country and the insurance public. view
• 30 Mar 2022 in National Assembly: Thank you, Hon. Temporary Deputy Speaker. view
• 11 Nov 2021 in National Assembly: Thank you, Hon. Temporary Deputy Speaker, for giving me this chance to support the Report. At the outset, I would like to tell the House that I was privileged to be part of the team under the Departmental Committee on Environment and Natural Resources that looked into the matters of LDK, Edermann Limited and the area that the two find themselves in. I am also privileged to be a Member of the Committee on Implementation. I was also part of the team that visited LDK to see the levels of compliance to the Report that had been prepared by the ... view
• 11 Nov 2021 in National Assembly: at this time when we have come from Glasgow. We must see to it that environmental pollution in this country is reduced to a minimum and we must adopt new technologies that are coming. We must work with other countries all over the world to see to it that we continuously improve. We hope that even NEMA can continue to be supported to be able to do their oversight roles. Thank you. view