From left: Head, Corporate Communications and Market Development, NAICOM, ‘Rasaaq, Salami; Managing Director/CEO Universal Insurance Plc, Ben Ujoatuonu and Deputy Director, Corporate Communications & Human Resources/Administration, Nigerian Insurers Association, Davis Iyasere at the event.

 

 

By Ngozi Onyeakusi–In a sustained effort aimed at building public confidence and trust in insurance business in the country, National Insurance Commission, NAICOM, has directed underw to
start publishing of outstanding claims in the national Newspapers.
Doing so, according to the commission would bring to the knowledge of some policyholders who were unaware of their claims to go for that.
This, among others is the fallout of the 14th Insurers Committee meeting held in Lagos.
Addressing journalists after the meeting, a member of the publicity and communication sub committee of the Insurers Committee, Mr Ben Ujoatuonu said it was aggreed that underwriters would henceforth advertise outstanding claims in their books so that the policyholders who have any claim would be aware to go for it.
Ujoatuonu who is the Managing Director/CEO, Universal Assurance Plc, said the whole effort was ensure documentation and harmonization of claims payment processes and make it very seamless and easy to understand.
Giving insight to the development, the Head, Corporate Communications and Market Development, National Insurance Commission, NAICOM, Mr ‘Rasaaq, Salami, said operators would henceforth life operators would also go further to check burial publications in newspapers to see if the deceased has a policy with them, so that their family members can be informed of the policy.

According to him, the regulator and operators believed the Initiative would raised public confidence on insurance and aid growth of the sector.

extant laws to see that the non-settlement of genuine claims is eliminated in the sector and I can assure you that we will not relent, he said

He admonished the Professionals to leverage the positive experiences from the past to build a formidable future for insurance in Nigeria, stressing that the effort must be collective and patriotic.

“We must all see insurance as a profession that should be a buffer for the economy while eliminating the toga of being the weak link within the financial services sector.

“We must practice insurance with passion and resilient not just as a means of livelihood that we have to survive on but, that which every insurance professional should be proud to say “I am a party to this success.” he submitted.