By Favour Nnabugwu

THE National Insurance Commission (NAICOM) has assured that it would re-launch the Market Development and Restructuring Initiative (MDRI) and create more access to insurance service before the end of this year.

The Commission in a circular titled, “Statement of NAICOM’s Regulatory Priorities for the Year”, stated that special and intensified implementation efforts would be made on Enforcement of Compulsory Insurance, Diversification of Distribution Channels and Increase in Access Points for Insurance Services.

It stated that the measure was to ensure protection of policyholders and beneficiaries of insurance contracts against unexpected losses of insurance companies.

It stated that the commission recognised the need to be innovative and proportionate in its supervision of insurance institutions and would be so guided appropriately.