NAICOM To Launch Revised Insurance Distribution Policy   The National Insurance Commission will soon introduce a revised insurance distribution channel, which will replace the State Insurance Policy that was cancelled. The new policy may involve the issuing of new distribution licences to non-insurance bodies, who would be...

Corporate Governance: NAICOM Considers Tenure for All Directors Pending the final release of the corporate governance code for the Nigerian Insurance sub-sector, National Insurance Commission (NAICOM) may tinker with the tenure and re-election of Directors in all insurance companies in Nigeria. Commissioner for Insurance, Mr. Mohammed...

Weak Regulation, Poor Leadership Ruining Insurance Sector Insurance industry experts have blamed weak industry supervision and poor leadership for the sector’s abysmal performance over the years. They admitted that over the years, the insurance industry in Nigeria has experienced slow and stunted growth for reasons such...

The National Insurance Commission (NAICOM), in partnership with the Kaduna State Government, is set to enforce the nation’s five compulsory insurance policies in the state. They are motor vehicle (third party) liability insurance, builders’ liability insurance (buildings under construction), occupiers liability insurance on public building,...

The National Insurance Commission (NAICOM) has introduced new insurance operation guidelines with a view to address the issue of low insurance penetration in the market. They are the Web Aggregators Operational guidelines; State Government’s Implementation of Compulsory Insurance (or State Financial Advisers) guidelines; Independent Agents...

NAICOM says Insurance Directors Acquire Shares without payments An Insurance Company Chairman (name withheld) has returned N66 million stolen fund from an insurance firm through the intervention of the apex Insurance regulator, the National Insurance Commission (NAICOM), Economic Confidential can confirm authoritatively. In an interview with...