Undeterred by its task to be among the top playyrs in the insurance market, the Managing Director of Oasis Insurance Plc, Babatunde Oshadiya said the company would not only play top but be among the major top three players in the market.
According to him, â€œWe have a mission in the insurance market, that is, to ensure that we remain a major player in the industry just as we want to sustain our identity of prompt claims settlement to our clients, which is one of the major hindrances to the growth of insurance market in this part of the world,â€
Oshadiya promised that the company would continue to use its prompt claims settlement to provide relief to its numerous clients and customers across the country.
The Oasis Insurance chief said, â€œover the years, the company has been known for its prompt claims settlement and by making a public declaration on this, it is an indication that the company would not renege on its promise when the need arise through claims settlement to provide necessary relief to all from time to time.â€ While interacting with brokers and customers at the forum, he noted that unlike in other parts of the world, insurance in Nigeria has low patronage due to inadequate attention and awareness on the need for everyone to have one form of insurance cover or the other to prepare for the unforeseen.required only prior to binding an insurance contract and could be made either orally or in writing.
Only upon request would insurance buyers be given descriptions of the nature, amount and source of compensation their producers receive; details of alternative quotes received; and descriptions of material ownership interest between a producer and an insurer.
â€œRIMS has been actively involved in discussions among stakeholders and the New York State Insurance Department for many months,â€ said RIMSâ€™ board member Deborah Luthi, in a statement. â€œWe viewed the original proposed regulation as a step in the right direction toward strengthening the trust relationship between the consumer and producers. While the regulatory process is advancing, RIMS is disappointed that the new document does not contain consumer protections that were part of the original proposal.â€