CFI, Sunday Thomas

By Ngozi Onyeakusi—The National Insurance Commission (NAICOM) said it has resolved to deal with
Insurance firms that have record of non settlement of outstanding claims.

The Commission consequently mandated insurance companies to as matter of urgency commence publication of outstanding claims in their records.

Speaking at the cocktail of the ongoing 2023 NAICOM Conference for Insurance Journalists in Uyo, Akwa-Ibom State, the Commissioner for Insurance Sunday Thomas stated that the Commission had written the operators and given them enough time to sort out all outstanding claims and begin
publications in national dailies.

The NAICOM boss who did not minced word on naming and shaming erring firms said the Commission has done a lot to ensure insurance companies live up to their responsibility as regard payment of claims.

He however, called on the public to revalue their assets due to inflation in order as to have claims that meet the present cost of asset.