Origin:
National Assembly
The Insurance (Amendment) Bill, 2023
A bill for an Act of Parliament to amend the Insurance Act enacted by the parliament of Kenya, as follows-
- This act may be cited as the Insurance (Amendment) Act, 2023
- Section 40 of the Insurance Act is amended by deleting the proviso to subsection (1).
- The Insurance Act is amended by inserting the following new section immediately after section 67G-
67H. (1) Any shareholder, director, principal officer or management staff of an insurer who-
- Fails to take all reasonable steps to secure the compliance of a registered or licensed person with this Act;
- Fails to take all reasonable steps to secure the accuracy and correctness of any ststement or report submitted under this act or any other applicable written law;
- Fails to supply any information required or effect any directive issued under this Act;
- Fails, without lawful justification, to settle a judgement or any claim under this Act; or
- Without claim of right takes or converts any property of the insurer to his or her personal or associate’s use or gain, including-
Sponsor
Bill Progress
1
National Assembly
1st Reading
2nd Reading
Committee Stage
Report Stage
3rd Reading
2
Senate
1st Reading
2nd Reading
Committee Stage
Report Stage
3rd Reading
3
Final Stages
Consideration of amendment
Presidential Assent