By Patience SAGHANA
Insurance operators are surveying the best method to comply with operational guidelines for 2010 releases by the national Insurance Commission NAICOM)

The highpoint of the survey will be critically reviewed at the forthcoming International Education Conference and Exhibition slated for this month in Abuja being packaged by the Chartered Insurance Institute of Nigeria (CIIN).

Mr. Adegboyega Adep-egba, Director-General of the institute who made this known in Lagos, said the forth coming CIIN conference titled, ‘Facing Current Industry Challenges’ is meant to provoke the thoughts of insurance professionals on the trio of regulatory, social and environmental challenges facing the industry.

According to him, “The vibrancy of the regulatory environment for insurance operations in the country deserves special attention from those who wants to play by the rules and meet the regulator’s requirements with regard to capitalisation, solvency margins and corporate governance dictates in the emerging dispensation”.

“The Market Development and Restructuring Initiatives (MDRI) of NAICOM, the operational guidelines 2010 and the responsiveness of arms of the industry to some of the provisions and requirements are some of the issues to be addressed under the regulatory challenges,” He said.

The CIIN DG noted that climatic changes and volatility of the environment remain causes for serious concern for risk managers, stressing that the emerging risk factors in catastrophic weather events as a result of rising sea level and flood is another source of worry for the underwriters.