NATIONAL Insurance Commission (NAICOM) said it is set to sanction any insurance company that charge inappropriate rate from 2018.

An insurance expert, Mr Mufutau Oyegunle, on Saturday lauded the National Insurance Commission (NAICOM) for its partnership with the Kaduna State Government on enforcement of compulsory insurance scheme.

The National Insurance Commission (NACOM) is seeking collaboration with the Kaduna State Government to facilitate the adoption of compulsory insurance policies in the state.

NATIONAL Insurance Commission (NAICOM) says it is working on applying statutory deposits of insurance firms to defray unpaid claims and that it will sack the chief executive of any company whose deposit is applied.

President of the Nigerian Council of Registered Insurance Brokers, NCRIB, Mr. Kayode Okunoren, in this interview speaks on efforts of the Council to avoid sanctions from the regulator. Excerpts

COMMISSIONER for Insurance and Chief Executive Officer of the National Insurance Commission, NAICOM, Mohammed Kari, has called on the leadership of the Chartered Insurance Institute of Nigeria (CIIN) to reinvent the professional body and update its curriculum so as to adopt contemporary best practices for the overall benefit of the profession Kari who stated this at the investiture ceremony of Mrs. Funmi Babington-Ashaye as the 48th President of the CIIN in Lagos said that there is obvious need for a re-awakening to ensure trained professionals are continually retrained and equipped with prevailing skills and knowledge for optimal performance in line with international best practice.

NATIONAL Insurance Commission (NAICOM) has cautioned insurance operators from generalising and publicising personal discontent with industry regulations.
Commissioner for Insurance, Alhaji Mohammed Kari gave this warning at the concluding session of the insurance conferenc

NATIONAL Insurance Commission (NAICOM) said that 12 insurance companies were acquired in the last three years.
Commissioner for Insurance, Alhaji Mohammed Kari, who made the disclosure in Abuja, said that there were three foreign acquisitions in 2014, two in 2015, five in 2016 while talks to acquire two companies are now in progress.

The President, Nigeria Council of Registered Insurance Brokers (NCRIB), Mr Kayode Okunoren, has applauded the National Insurance Commission (NAICOM) for considering abolishing annual renewal of brokers’ licence.

THE National Insurance Commission (NAICOM) has approved the 2016 accounts of 39 insurance companies, leaving out about 10 others that were among the 49 that have so far submitted in line with the International Financial Reporting Standards (IFRS).