Confidence in insurers has been restored among the insured

Insurance commission has noted that the number of complaints filed by policyholders against their insurer for non-settlement of losses has dwindled down. This trend is accounted for by the fact that zero tolerance policy imposed by the authorities is bearing its fruit, with insurers indemnifying customers more quickly. The 2012 first quarter report has shown that the claims settled by the commission attained an indemnification amount of 617.8 million NGN (3.923 million USD) disbursed for the benefit of policyholders whose trust in the sector has slightly increased.