Compulsory insurance enforcement: NAICOM Urges state governments to domesticate insurance laws
As the National Insurance Commission (NAICOM) embarks on enforcement of compulsory insurances nation wide, State governments have been implored to domesticate insurance laws in their various states.
This according to the commission, will allow seamless kick off of the enforcement in the state.
The Commissioner for Insurance, Mohammed Kari gave the admonition at seminar organized by the commission for insurance correspondents in Gombe State.
According to him, the commission has been in the business of establishing relationships with the state governments across country for this purpose.
“In the first presentation, it was to open branches across the country, you know the peculiarity of insurance law we enforce, its a federal law, it only apply in federal locations which effectively is Abuja now.
All state government have to domesticate the laws locally like Lagos State has before we can enforce it and now are taking them through that motion to highlight them areas on which they do to domesticate it and yesterday when we visited deputy governor of Gombe state the governor was not it town, we made the same plea and he offered that he will also have his office checked and see what was not domesticated and if they not he promised that he relate to the governor the need to do it immediately.
We are hopeful that when we have locations directly in the state, we can on daily basis follow them up and one fundamental development in the opening of branches , because of the recession, we have earlier I budgeted opening 12 branches but we have reduced it by 50 per cent because the year has already gone. We will ensure we achieve 50 per cent of them before the year and next year we can make up”, he assured.