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Insurance brokers set to tackle image proble

By Patience Saghana
Insurance brokers are set tocorrect the image problem confronting the broking arm this year following the several accusations of non-remittance of premium and sidelining brokers in business dealings.

The umbrella body of insurance brokers, the Nigerian Council of Registered Insurance Brokers (NCRIB) has resolved to correct the problems this new year

Dr Teslim Sanusi, NCRIB president during his speech at the last Brokers’ Evening admitted that the council was awake to the challenges being encountered by the brokers.

According to him, “we are all aware of the image problems confronting our council and the broking profession generally. The insurance Broker is hardly known, let alone being appreciated by members of the public.

This unfortunate situation has stalled the prosperity of our members and ultimately reduced our contributions to the nation’s GDP. This trend must stop”

He stated, “As you are aware, the operational environment of insurance broking is becoming more and more unfriendly business- little thanks to the global economic recession- as well as the growing number of our “enemies” which we have to contend with in the course of discharging our professional duties”.

In cognizant of this situation, Sanusi said, “I am personally resolved to devote my time in the course of my tenure as President to ensure that all stumbling blocks on our way are not only crushed but turned into stepping stones for the achievement of our collective aspiration”.

He had identified seven policy thrusts in his acceptance speech during his investiture as the  President of the body, namely; Human Capital Development; Ethics and Professionalism; Befitting Secretariat Building; Strategic Cooperation and Alliances; Professional Identity of Insurance Brokers, and Rebranding and Publicity.

On of the top challenges facing the brokers is N100milon capital base for insurance brokers in reviewed the Insurance act at the National Assembly.

He said, “I must use this medium to bring to the fore the discontent of the Council with certain clauses being introduced into the Insurance Act, especially that which could hamper the practice of broking on the long run in the country. Speculations are rife about the move to spiral the capital base of insurance brokers”.

“We have said repeatedly that such move would be counter productive as it would kill professionalism which insurance broking is all about. Insurance broking is like any other profession such as  law, architecture, advertising etcetera, which does not require any capital base to operate”.

He also stated that there were moved in some quarters to make membership of the council optional,
“Similarly, have on good authority the move to emasculate the NCRIB by making its membership voluntary.

Whilst the Council is resolute to explore all avenues to resist all anti brokers laws, we shall continue to uphold the integrity of our practice through the rendition of quality service to our members.


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