• Monday, May 27, 2024
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NAICOM sets eye on consumer protection, industry growth

NAICOM sets eye on consumer protection, industry growth

The new executive management of the National Insurance Commission (NAICOM) says it will focus on consumer protection and the growth of the nation’s insurance industry.

Segun Omosehin, the newly appointed commissioner for Insurance/CEO at NAICOM, announced this when the council members of the Nigerian Insurers Association (NIA) visited him in his office in Abuja.

Omosehin said his administration would continue to collaborate with the NIA to safeguard consumer rights, particularly in ensuring the prompt settlement of genuine claims.

He also affirmed executive management’s ambition to drive growth in the Nigerian insurance Market.

Omosehin also briefed on the commission’s ongoing review of its strategic plan to align it with the Nigerian insurance industry’s ten-year strategic plan.

Kunle Ahmed, incoming chairman of the NIA while extending his congratulations to the recently appointed executive management of NAICOM, expressed gratitude to the commission for its pivotal role in maintaining a fair and stable insurance sector.

He emphasised the importance of initiating the implementation of the ten-year strategic plan and finalising the consolidated insurance bill. He further expressed his willingness to collaborate with the new executive, expressing confidence in their ability to elevate the insurance sector to greater heights.

The commissioner for insurance assured continued collaboration with the NIA to safeguard consumer rights, particularly in ensuring the prompt settlement of genuine claims.