Two industry bodies the Nigerian Council of Registered Insurance Brokers (NCRIB) and the Chartered Insurance Institute of Nigeria (CIIN), have pushed for acceleration of the enforcement of compulsory insurances.
This is coming on the heels to give momentum to enforcement because of the near dormant state of the compulsory insurances which are specified in Insurance Act 2003 and enforceable by government security agencies.
Receiving the NCRIB delegation led by its President, Mr. Rotimi Edu, mni, in Lagos, President of the CIIN, Dr. Muftau Oyegunle, emphasized the need for industry stakeholders particularly NCRIB, to device a more ingenious strategy that would accelerate the momentum for compulsory insurance covering builders liability insurance, employers liability insurance, motor third party liability insurance, employers liability insurance (group life), occupiers liability insurance, healthcare professional indemnity insurance
The CIIN President applauded the leadership of the NCRIB and insurance brokers for their critical contribution to the Institute’s membership and other financial services sector. Dr. Oyegunle also promised the support of the institute to collaborate with the NCRIB on the proposed examination syllabus for insurance brokers
Speaking earlier, President of the NCRIB, Mr. Edu said his team’s visit was also to appraise the Institute leadership with its policy thrust anchored on “Brokers’ Centrism” and also inform the CIIN about the forth coming 60th anniversary of the Council, and solicit its support.