Clean-up of the Nigerian market

The insurance commissionor, Daniel Fola has asked insurers to comply with the underwriting guildelines issued by the National Insurance Commission (NAICOM). These guidelines are part and parcel of oversight and regulation tools established since January 1, 2010. They are designed for all players; brokers, agents, claim adjusters, insurers and reinsurers. By enforcing these rules, NAICOM is hoping to clean up a market that is rigged by fraudulent practices. The Commission also aims at improving the quality and the performance of the operators.