Breaking News
Translate

CIIN canvasses need for efficacy of insurance

By RITA OBODOECHINA

President of the Chartered Insurance Institute of Nigeria, CIIN, Mr.  Wole Adetimehin, has said that the institute have continuously canvassed   the need for a genuine national consciousness on the efficacy of insurance especially with the spate of insecurity and the destruction of lives and properties.

Adetimehin said that the CIIN has initiated suitable and relevant training programmes aimed at equipping practitioners with the necessary tools for underwriting the emerging risk exposures such as kidnapping and terrorism.

‘We are also gearing up at promoting the development of pool formations which can contain these catastrophic risks and guarantee greater confidence from the insuring public’ he said

The CIIN Boss noted that as an industry, the institute have an undisputed stake in the growth and development of the national economy and the socio-political landscape, and its various engagements with governments at the state and federal levels provided opportunities for asserting the relevance of insurance policy packages for indemnifying businesses against losses while also providing the necessary peace of mind for both local and foreign investors.

On enhancing the quality of insurance education in Nigeria, Adetimehin said the governing council of the institute has taken a pursuit and actualisation of construction work at the site of the College of Insurance and Financial Management  preparatory for launching of the first phase and take-off of activities of the College.

He added that the progress at the College site is significant, especially with the completion of key structures for the College take off.

He disclosed that there is an accreditation exercise of additional institutions of tertiary education offering insurance, this he said, includes the Federal Polytechnic, Offa; Lagos State Polytechnic; the Polytechnic, Ibadan; University of Uyo; and  Joseph Ayo Babalola University.

He said the accreditation exercise is a marked effort in guaranteeing the sustenance of approved standards in the delivery of programmes leading to award of qualifications in insurance.

He however said that the Governing Council decided to institute an annual Nigeria insurance awards to honour those who have excelled in the profession and those who have contributed most significantly to the insurance world-view over the years.

He said, “It is pleasing to report that the maiden awards will take place as part of the 2013 Annual Dinner and Investiture Ceremony slated for Friday 14th June,2013”

Continuing he said, “The Governing Council, in establishing the modalities for the annual awards, has put in place an enduring legacy for recognition of icons of our profession and the beacons of hope for the up and coming generation.”

He commended the leadership of the insurance regulator, NAICOM, which is continually geared towards the growth and development of the Institute and the insurance industry as a whole.


Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.