The newly inaugurated Committee on the Review of the Insurance (Consolidated) is to reinvigorate the enforcement power of the National Insurance Commission( NAICOM), as part of efforts to reposition the insurance industry, and make it play a more critical role in the economy. While inaugurating the committee ON THURSDAY, Minister of Finance, Kemi Adeosun said the committee underscored government’s resolve to repositioning the insurance industry and ensuring that it plays its expected role in the financial services industry and the overall economy.
She explained that the committee will help address delays associated with insurance policy holders accessing their claims and also recommend the setting up of dispute resolution mechanisms as a means of resolving diverse issues that hamper the growth of the nation’s insurance industry. The committee headed by a renowned expert in Insurance Law, Omogbai- Omo Eboh, has Dr. Talmiz Usman (Head of Legal Department, NAICOM as the secretary and has 90 days to complete its works
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