NCRIB advises policy holders to use brokers in insurance transactions

 The president of the Nigerian Council of Registered Insurance Brokers (NCRIB), Laide Osijo, on Sunday advised Nigerians to use the services of brokers in insurance transactions.

Osijo told the News Agency of Nigeria (NAN) in Lagos that insurance policy holders would benefit more by using brokers.

According to her, most issues with insurance claims arise because most policy holders do not go through the insurance contract before taking a policy.

“Once a broker is involved, the broker already knows the technicalities of each policy and will be able to educate the person on what to expect.

“With a broker, when an insured risk occurs, the policy holder needs only to inform the broker who will take it up.

“The policy holder can then go to sleep, waiting for a call from his broker to pick a cheque for his claim”.

Osijo said that the broker could also help the policy holder to get the best bargain from insurance companies.

The NCRIB president said that insurance companies could also help their policy holders by encouraging them to use the services of brokers.

She said that the consultative forum set up by the Chartered Insurance Institute of Nigeria (CIIN) would help practitioners to address issues that would help the industry and the insuring public.

According to her, the forum will also encourage cooperation among insurance associations, Institute of Loss Adjusters of Nigeria, the Nigerian Insurers Association, CIIN and NCRIB.