NAICOM To Liase With State Governors, Others To Domesticate Insurance Laws

By LOVETH AZODO, Lagos

The National Insurance Commission has resolved that the commission will synergize with stakeholders, liasing with State Governors and Houses of Assembly to domesticate insurance laws.

The commission made the resolutions at the 2nd Meeting of the Insurance of Public Buildings and Buildings Under Construction Committee .

The meeting which was spearheaded by the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin was held Tuesday, July 2, 2024, in Abuja.

A statement by the Commission, shows that he Deputy Commissioner for Insurance, Mr. Ekerete Ola Gam-Ikon, who was the Committee Chairman at the meeting emphasized the importance of the committee’s national assignment.

Also, he emphasized on developing a methodology to ensure compliance with the insurance of public buildings and buildings under construction.

According to him, The effort aims to enhance the uptake of insurance in these sectors.

The committee concentrated on identifying and exploring synergies with key stakeholders. A major point of discussion was the importance of liaising with State Governors and Houses of Assembly to facilitate the domestication of insurance laws, thereby improving compliance rates across the country.

Additionally, he maintained that there is need for stakeholder sensitization regarding the importance of adhering to compulsory insurance regulations.