By Ngozi Onyeakusi—The National Insurance Commission (NAICOM), as part of its strategic objective to drive innovation of products and services, has issued the following guidelines:

• Insurance Regulatory Sandbox Operational Guidelines
• Market Conduct Guidelines for Takaful and Retakaful Insurance Operators
• Enterprise Risk Management Framework for Takaful and Retakaful Operators in Nigeria.

According to the Head, Corporate Communication and Market Development Mr Rasaaq ‘Salami the move was to ensure operators are professional in the conduct of their businesses in line with best practices.

The Commission expects all Operators to ensure compliance with the new guidelines to the benefit of all stakeholders. Attached are the various guidelines for your necessary action , he said.