Insurance brokers warn against patronising quacks
Nigerian Council of Registered Insurance Brokers (NCRIB) has advised Nigerians to patronise only registered insurance brokers for all their underwriting businesses.
The NCRIB president, Rotimi Edu, advised on the sidelines of the NCRIB’s Special Day at the 2021 Lagos International Trade Fair (LITR) in Lagos.
Mr Edu explained that it is to ensure that Nigerians get the best professional advice and go through a seamless process when buying insurance policies and processing claims payments.
He said that professionalism and standards among brokers were non-negotiable, as the council had laid down rules and also facilitated training to improve its members.
According to him, the participation of NCRIB at the fair for the first time was aimed at creating awareness and educating the public in a bid to increase insurance penetration.
“I am happy that we have taken insurance further from where it was and taken it closer to the doorsteps of Nigerians.
“Through the engagement, industry players have shown people a lot of opportunities available in insurance.
“The insurance companies that came to the fair for the exhibition will become conglomerates in a few years to come, depending on their business plan and focus.
“This will transcend into the golden premium for the industry in a few years and contribute to the nation’s Gross Domestic Product (GDP),” he said.
Mr Edu noted that the collaboration between NCRIB and the Lagos Chamber of Commerce and Industry (LCCI) would open up another avenue for business and growth of the industry.
Also, the chairman, Insurance Group, LCCI, Gboyega Olanbiwonnu, said that the collaboration between the council and the LCCI would add value for commerce and industry for Nigerians.
“NCRIB and LCCI are two great brands, having existed for 60 and 150 years respectively,” he said.
He added that the participation of the industry at the fair would deepen insurance penetration, which would, in turn, impact positively on the industry.
The fair was held between November 5 and 14 with the theme “Connecting Businesses, Creating Value.”
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
NationWide
NYSC reforms will curb unemployment, boost productivity: APC Chieftain
According to him, the initiative will deepen human capital development by equipping corps members with marketable skills that can boost productivity.
NationWide
Nigerians divided over FG’s six-week NYSC orientation reform
The government extended the orientation course from three weeks to six weeks.
NationWide
Nigeria needs bold structural reforms to reduce cost of living, ADC chieftain says
He said temporary intervention programmes alone could not build a modern and resilient economy.
Lagos
Lagos consumers turn to stockfish heads amid scarcity, rising prices
Nigeria remains the world’s largest importer of Norwegian stockfish, with millions of dollars’ worth shipped annually to meet the massive demand.
Rights
Expert seeks greater inclusion of persons with disabilities in governance, electoral process
He called for electoral reforms to make polling units more accessible to persons with disabilities.
States
NDLEA arrests Nigerian-British grandma with 13kg of cocaine hidden in plantain peels
The NDLEA said the drugs were concealed in peels of plantain, which appeared as real plantains and were packed among other food items.
