The National Insurance Commission (NAICOM) has expressed worry over the disturbing issues of claims default to policyholders.
The insurance regulator had in June this year canceled the licences of Niger Insurance Plc and Standard Alliance Insurance Plc over inability to carry out their primary responsibility of claims payment and other irregularities.
Deputy Commissioner for Insurance, Alhaji Sabiu Abubakar recently affirmed that there is possibility that they would cancel some companies’ licensces that majorly defaulting in claims payment.
Source: NAICOM restates commitment to sanitize industry – StocksWatch (stocksng.com)
