The Chartered Insurance Institute of Nigeria (CIIN) says it is desirous to collaborate with the Nigerian Council of Registered Insurance Brokers (NCRIB) toward the enforcement of the compulsory insurance law.
This is contained in a statement issued on Thursday by the Corporate Affairs Manager of the council, Mr Dele Ayeleso.
The statement disclosed that the President of CIIN, Dr Muftau Oyegunle, made the institute’s intention known when NCRIB members, led by it’s President, Mr Rotimi Edu, visited him in his office in Lagos.
It quoted Oyegunle to have challenged NCRIB and other stakeholders in the industry to device a more ingenious strategy to heighten the momentum for compulsory insurance.
He listed the compulsory insurances under the law to include: Builders Liability Insurance, Employers Liability Insurance, Third Party Motor Liability Insurance, Employers Liability Insurance (Group Life), Occupiers Liability Insurance and Healthcare Professional Indemnity Insurance.
“NCRIB is a paramount stakeholder in the industry and must collaborate with others to device a more ingenious strategy that would accelerate the momentum for compulsory insurance.
“Insurance brokers constitute a critical segment of the institute’s membership and its place in the insurance and financial services sector cannot be undermined,” he said.
Oyegunle emphasised the commitment of the institute toward professionalising broking and collaboration with NCRIB for the proposed examination syllabus of insurance broking for its members.
In an address, the NCRIB’s president said their visit was meant to appraise the institute’s leadership with its policy thrust, which is anchored on “Brokers’ Centrism”.
He also sought the support of CIIN to ensure a successful 60th anniversary of the council.
The advocacy for the enforcement of the compulsory insurance law has been on the increase.