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    Naicom: Experts Differ on Regulatory Policies

    MR. Jimoh Ibrahim, chairman of Nicon Insurance Group has charged the National Insurance Commission (Naicom) to be a regulator and not a bully.

    ALTHOUGH the insurance industry is crowded with insurance brokers, many of them are concentrated in a particular area and don’t contribute significantly to the growth of the premium income in the sector.

    Niger Assures Investors of Better Service

    THE management of Niger Insurance Plc has assured investors in the company of better days ahead saying they should be rest assured of better returns on their investment going forward.

    OUTSTANDING premiums have always been an issue   between underwriters and brokers in the insurance industry. Prior to now, the trend is for underwriters to declare huge premium income at the close of every financial year only for the figures to turn out to be mere paper work as there is no liquidity backing up such figures.
    Worried by these turn of events, the National Insurance Commission (Naicom) gave a directive that underwriters must make provision for outstanding premiums; in essence no more classifying them as profit as is hitherto the case; as well as directed that no chief executive  of an underwriting firm must own or have shares in a broking firm.

    Private Medical Outfits Shun NHIS

    PRIVATE medical outfits in the country are still shunning the National Health Insurance Scheme (NHIS) initiated by the federal government.

    THE International Finance Cooperation (IFC), a member of the World Bank Group has stated its readiness to increase access to health care for people of all income levels and raising standards of quality and efficiency in the sector for all Nigerians.

    Insurance Law Review will Boost the Sector

    AS the laws and rules governing the practice of insurance in the country undergo review, the new laws which will emanate at the end of the review will give birth to a new insurance industry.

    Insurers Charged to Embrace Merger, Acquisition

    FOLLOWING the dwindling fortunes of underwriting firms, experts have called for their voluntary mergers and acquisition.

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