NAICOM hosts Miroinsurance, Takaful stakeholder’s engagement workshop


1-naicomIn its bid to deepen insurance penetration in the country, the National insurance Commission (NAICOM) on Thursday in Lagos unveiled its Miroinsurance stakeholder’s engagement Workshop.

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In an opening remark, the Commissioner for Insurance Mr. Fola Daniel noted that the aim of the workshop was to have the views of all stakeholders as regards the Microinsurance and Takaful Insurance before the commencement of the business.

The commissioner who was represented by the Deputy Commissioner (Finance and Admin), Mr. George Onekhena, said that the commission in 2014 will be focusing on deepening insurance penetration through Micro Insurance and Takaful Insurance and for that reason will need the input of all stakeholders in preparing the guidelines.

Deputy Director Authorization and Policy, Mr. Leo Akah while presenting a paper, “An Overview of Micro Insurance Guidelines”, said that the micro insurance is not a conventional insurance that is expensive but affordable and the reach of low income earners.

He noted that the industry had no choice than to embrace micro insurance in order to tackle low insurance penetration in the country.

He noted that the aim of the conference was to make sure that before the guidelines is released the stakeholders are knowledgeable about  the concept, context and all that is required in the guidelines and if they have different view they can voice it out for the commission to look into.

He added that the commission wants the input of all stakeholders in the industry in order to ensure that the aim of the conference is achieved.

He however urged operators to take full opportunity of Nigeria population to harness Microinsurance and Takaful insurance, adding that micro insurance thrive in numbers.

Babatunde Akinsola
Babatunde Akinsola
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

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