Play by the rules, NAICOM tells NCRIB

The National Insurance Commission (NAICOM) has challenged Ayodapo Soderu, the new president of the Nigerian Council of Registered Insurance Brokers (NCRIB), to ensure high level professionalism among its members, stating that this is necessary to compliment the efforts of the Commission on market development initiatives.

“Your agenda should also include keeping a close tab on your members with a view to ensuring that they play by the rules and collaborating with other arms of the insurance industry to consolidate the successes of the NAICOM driven market improvement initiatives,”

Fola Daniel, commissioner for insurance said during the investiture ceremony of Shoderu which held in Lagos.

Thompson Barineka, director, inspectorate, NAICOM who made presentation during the International Conference of the NCRIB heralding the investiture charged insurance brokers and other operators to abide by the industry’s laws or face sanctions as there is no longer hiding place for offenders.

“NAICOM has set in motion measures that enables it to oversee all the activities of operators, adding that the Commission’s portal for daily monitoring of the activities of the operators will soon come on stream.

Laide Osijo, outgoing president, NCRIB, while adding her voice to the debate, called on members to embrace the new premium rule and support the regulator in ensuring that it succeeds as it remains one of the best things to have happened in the industry in recent times.