The outgoing PILA President, Bimbo Onakomaya, urged members to build wealth, lead boldly and sustain excellence.
Mr Omosehin emphasised the need for simpler and more relatable communication to attract young Nigerians.
Mr Omosehin said the compensation to accident victims would be administered by a committee that included FRSC representation.
The NAICOM boss said the initiative aimed to strengthen resilience and productivity in agriculture, targeting a total of 3.6 million farmers by 2026.
Mr Oguntade noted that a stronger insurance market would improve resilience.
He said it was also important to strengthen regulatory frameworks to promote stability and accountability.
He noted that Nigeria’s tax reforms had been largely insensitive to the peculiar challenges of different industries.
He noted that insurers must ensure prompt and transparent claims processing.
Statistics from the National Insurance Commission (NAICOM) say the insurance industry recorded N3.877 billion in total assets in the third quarter of 2024.
Mr Omosehin said the commission was committed to protecting policyholders in the insurance business, saying it was one of their core mandates.
