NAICOM Strengthens Path to Compliance of Insurance of Public Building

The National Insurance Commission, NAICOM, has moved a step further to ensure enforcement and monitoring of insurance of public buildings and buildings under construction.

In that regard, the Regulator, has inaugurated a 10 member stakeholder committee to ensure success and implementation of the law.

The Commissioner for Insurance (CFI), Sunday Thomas, while performing the inauguration of the Committee shortly after the end of the 2-day ‘National Insurance Conference 2023’ in Abuja, expressed optimism said that this new development will change the narrative in the sector.

He said, “We believe with this Committee, the Nigerian insurance industry will never remain the same again.We believe also that we will be redefining safety in the entire economy and also putting insurance at the center on the redefinition of safety in Nigeria.”

The Commissioner added, that this same Committee will be replicated at the state level and in another six months the industry will look at the impact of the committee in the area of insurance of public building and building under construction. Read More