NAICOM restates commitment to sanitize industry

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)

Your Comment:

Related Posts

22

Mar
Market Update

Stock Market Review: March 22, 2023

The Nigerian equity market on Tuesday bounced back after sessions of losses with a marginal growth of 0.03%. The All Share Index and Market Capitalisation stands at 54,904.68 points and N29.91 trillion respectively. In a stock market review with Mr Gilbert Ayoola, a seasoned capital market expert, the following were discussed: Excerpts: The stock market on Tuesday[…]