By Tony Obiechina, Abuja
The National Insurance Commission (NAICOM) has directed all insurance companies to publish the names of all outstanding claims in their records.
The Commissioner for Insurance Sunday Thomas who disclosed this at a seminar the Commission organised for insurance journalists in Uyo, Akwa Ibom State said that there would be consequences for failure to comply with the mandate.
Thomas further disclosed that the Commission had written the operators and given them enough time to sort out all outstanding claims and begin publications in national dailies.
He pointed out that NAICOM has done a lot to ensure insurance companies live up to their responsibility regarding payment of insurance claims.
The NAICOM Boss who urged the public to revalue their assets due to inflation so as to have claims that meet the present cost of asset, also implored them to manage their risks through insurance, especially now that cost of replacement of lost or damaged assets is at the rooftop.
Meanwhile, the Commission is working in collaboration with the Office of the Secretary to the Government of the Federation (SGF) on new guidelines for insuring Federal Government assets.
Sunday who disclosed this at event explained that the initiative which is driven by the Secretary of the Government of the Federation, Sen. George Akume and being implemented by NAICOM, adding that the guidelines being developed will be launched in October, 2023. READ ALSO:
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“Since the new Government came in I have had course to see the SGF and we are working on the guideline for the insurances of government assets. They are taking it seriously.
“Besides, His Excellency the President Bola Ahmed Tinubu, established an insurance culture in Lagos when he was Governor, and until today except one Governor that ‘didn’t pay premium all the other Governors till date have paid premiums and followed the template that he put down for insurance. He is replicating that at the Federal level,” Thomas said.
