The intervention by the regulatory authority NAICOM

According to Daniel Fola, insurance commissioner, the market is likely to generate a premium volume of about 51. 28 billion USD by 2012 provided that the sector's restructuring and development process is achieved.
To meet these objectives, NAICOM, the regulatory authority intervenes to consolidate compulsory insurance cover, the battle against fraud, the sector's cleanup as well as the institution of risk supervision mechanisms. The World Bank, on the other hand, contributes by providing support to the sector, in particular, through training actions.