NAICOM reaffirms commitment to align insurance sector with President Tinubu’s economic reforms, aiming to grow Nigeria’s economy to $1 trillion by 2030, during Yetunde Ilori’s investiture as CIIN president.
NAICOM and Lagos State Fire Service met in Abuja to strengthen their partnership, aiming to enhance enforcement of Public Building Insurance for better compliance and protection against fire hazards in Lagos State.
NAICOM launches complaints.naicom.gov.ng for swift insurance issue resolution, urging public engagement. Enhancing regulatory efficiency and customer service.
NAICOM has promoted Rasaaq Salami to Director of Human Resources & Administration and restructured its organization to enhance efficiency. This includes new directorates focused on key areas like innovation, legal, and finance.
This article explains the differences between insurance brokers and agents, highlighting their roles, responsibilities, and loyalties. It outlines how brokers represent clients with access to multiple insurers, while agents represent insurance companies. The article also covers regulation by NAICOM, choosing between the two, and their respective benefits.
This article provides a comprehensive overview of marine insurance in Nigeria, covering its importance, types of policies, challenges, regulatory framework, and future prospects. It explores the current state of the industry, major players, market trends, and key considerations for insurers, stakeholders, and policymakers in navigating Nigeria’s marine insurance landscape.
The article delves into the rich history of Nigeria’s insurance sector, exploring the pivotal role of the National Insurance Commission (NAICOM) and its successive commissioners. From Chief Eugene Okwor’s pioneering efforts to Mr. Olusegun Ayo Omosehin’s vision for transformation, each leader’s tenure is scrutinized, highlighting triumphs, challenges, and the evolving landscape of insurance regulation in Nigeria.
The article sheds light on the dire situation at Nigeria’s National Insurance Commission (NAICOM), which has ceased regulatory activities since January 2024. It discusses the industry’s challenges, including inefficiency, funding issues, and political interference. Urgent solutions are proposed to prevent the collapse of the insurance sector.
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