NAICOM Advocates Commitment To Professional Ethics, Practices For Achieving Enduring Institutions

The National Insurance Commission (NAICOM) has advocated commitment to entrenching professional ethics and practices as recipe towards achieving lasting institutions in insurance sector.

The Commissioner for Insurance and Chief Executive Officer of the NAICOM, Mr. Olusegun Ayo Omosehin, canvassed this while speaking at the 2024 Nigeria Council of Registered Insurance Brokers (NCRIB) CEO’s Retreat held from 13-15, June, 2024 in Uyo, Akwa Ibom State. The retreat was themed “Building Institutions That Survive Their Promoters.”

The NAICOM helmsman who was represented by the Deputy Commissioner, Mr. Ekerete Olawoye Gam-Ikon, in a goodwill message emphasised that in today’s rapidly changing world, the concept of building enduring institutions is more relevant than ever.

According to him, “Institutions that outlive their founders represent sustainability, resilience, and continuous excellence, becoming pillars of strength for our communities and guiding us through times of change and uncertainty.”

For NAICOM, he disclosed that there is a deep commitment to creating lasting legacies, adding that “This commitment is built on robust governance, innovation, and an unwavering dedication to ethical practices. These principles not only ensure the longevity of institutions but also foster trust and confidence among stakeholders.”

The Deputy Commissioner who highlighted the crucial role insurance brokers’ play in this endeavour, observed that “As intermediaries who facilitate critical financial protection, brokers are instrumental in promoting stability and security whose efforts contribute to a safer and more predictable environment for businesses and individuals alike.”

He expressed confidence that the discussions and insights shared during the retreat would illuminate strategies and best practices to ensure that the institutions built today will thrive for generations to come.

He urged everyone present to use the opportunity to collaborate, learn from each other, and reinforce the insurance industry’s collective mission to create sustainable futures.