In a bid to sanitise the insurance industry, the National Insurance Commission (NAICOM) has said that it will to withdraw the licenses of more erring insurance companies. This is coming after revoking the operational licences of Standard Alliance and Niger Insurance.
According to the Chairman, Governing Board of NAICOM, Dr Abubakar Sani, the agency was desirous of protecting policyholders and instilling discipline in the industry.
“We have to sanitise the institutions and we will not allow weak companies to continue in order to protect policyholders. This is important so that at the end of the day, nobody will accuse of having weak regulations. We are out to really protect policyholders”
Source: NAICOM restates commitment to sanitize insurance industry – StocksWatch (stocksng.com)
