April 20, 2024

The Nigerian Council of Registered Insurance Brokers (NCRIB) has forged synergy with the Chartered Insurance Institute of Nigeria (CIIN) to accelerate enforcement of the law on compulsory insurances.

A statement by the Corporate Affairs Manager, NCRIB, Dele Ayeleso, said though, there have been strident advocacy for the enforcement of the law as enshrined in Insurance Act 2003 by National Insurance Commission (NAICOM), significant momentum is yet to be generated with the law in the Country raising concern among operators and relevant stakeholders.

Receiving the NCRIB delegations led by its President, Rotimi Edu, mni, in Lagos, President of the CIIN, Dr. Muftau Oyegunle emphasized the need for industry stakeholders of which the NCRIB is paramount, to device a more ingenious strategy that would accelerate the momentum for compulsory insurance covering Builders Liability Insurance, Employers Liability Insurance, Motor 3rd Party Liability Insurance, Employers Liability Insurance (Group Life), Occupiers Liability Insurance, Healthcare Professional Indemnity Insurance.

The CIIN President who applauded the leadership of the NCRIB said insurance Brokers constitute a critical segment of the Institute’s membership and its place in the insurance and financial services sector cannot be underestimated.

Speaking earlier, President of the NCRIB, Edu said his team’s visit was also to appraise the Institute leadership with its policy thrust anchored on “Brokers’ Centrism”.

Edu utilized the visit to inform the CIIN about the forthcoming 60th anniversary of the Council, for which it sought the institute support.


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