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 expressed optimism 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.
The terms of reference of the body include, data collection, continuous monitoring, comprehensive reporting, and the organization of regular meetings to assess the state of insurance coverage within the sector.
