Outgoing chairman of NIA Wiggle outline achievements in office

The outgoing Chairman of Nigerian Insurers Association (NIA), Gus Wiggle has outlined his achievements in office, stating that his administration was able to keep a good relationship with the National Insurance Commission and other regulators, which resulted in improved market development and growth.

GUS Wiggle will hand over the mantle of leadership of the NIA on 30 June 2016 to Eddie Efekoha, managing director, Consolidated Hallmark Insurance plc who is currently the deputy chairman.

Wiggle addressing the pressing on his achievements in office said “Looking back at the agenda we set for ourselves at the beginning of our tenure, we want to say that we have made some modest achievements during the period.”On the relationship with NAICOM, we have continued to engage the them on issues that affect the business of our members and this will continue as issues may arise.”

He disclosed that on the relationship between the Association and other regulatory bodies, NIA has continued to engage other regulators such as SEC, FIRS, PENCOM and NSE on issues bothering on the effect of their oversight activities on member companies.

“A representative of the Governing Council met with the Executive Management of the Federal Inland Revenue Service on issues relating to some of the provisions of CITA 2007 as effect on the insurance sector. It is expected that our engagement will resolve the issues observed “

According to him, the Association has had very robust and fruitful discussions with the National Assembly in her determination to address holistically the issues that are inhibiting the growth of the insurance sector.

In the area of promoting market discipline, the mandate of the Governing Council Disciplinary Committee has been widened to include Conflict Resolution among members. This is to enable the Committee handle disputes between member companies. This will complement activities of the Customer Complaints Bureau.

The Governing Council has also referred many issues to the technical committees to ensure that views are adequately taken into consideration in taking decisions in core technical areas.

This is a sure way of strengthening the technical committees which are usually the bedrock of our decisions on technical matters.

“Let me also report that the Energy & Allied Insurance Pool (EAIPN) has taken off and 20 companies have already subscribed to the Pool. To ensure high performance and leverage on international experience, African Re has been appointed as the manager to the pool.”

Other achievements is on the area of microinsurance where the association organized a Micro insurance fair in 2015 and the aim was to bring the stakeholders together and chart the way forward for micro insurance in Nigeria.