Home Insurance Digest NCRIB urges govt to patronise insurance brokers

NCRIB urges govt to patronise insurance brokers

NCRIB urges govt to patronise insurance brokers

Stories by EDDY JOHN

The Nigerian Council of Registered Insurance Brokers (NCRIB), the umbrella association of all Insurance brokers in Nigeria, has called on the three tiers of governments to insure their assets and employees through registered insurance brokers.
The Council’s President,Shola Tinubu,who said this at the 2018 CEOs Retreat of the association in Uyo, Akwa-Ibom State, said insurance brokers play a major role in insurance value chain.

Shola noted that insurance brokers, being the professional arm of the industry know the nitty-gritty of insurance business and their engagement gives the client opportunity to maximise their insurance placement without any extra cost to the client.

He called on the government, especially, Akwa-Ibom State government to ensures the inclusion of brokers in all its business transactions, which he said is in tandem with the NCRIB Act which makes for patronage of only registered insurance brokers even as he expressed his conviction that the retreat in Akwa Ibom State will open another vista of opportunity between the brokers and the Akwa Ibom State government.

“I am convinced that this will be the beginning of business relationship between Insurance Brokers and the Government of the State. His Excellency let me digress a little to inform you that there are lot of benefits the State could derive from patronizing Registered Insurance Brokers in placing all her insurances.

“The importance of Insurance Brokers in the Insurance Value Chain cannot be overemphasized. It is important to state that Insurance Brokers are the Professional arm of the industry. We know the nitty-gritty of Insurance Business and their engagement gives the client opportunity to maximize their insurance placement without any extra cost to the client. I would like to appeal that the government ensures the inclusion of Insurance Brokers in all its Business transactions.

“This step is definitely in tandem with the NCRIB Act which makes for patronage of only registered insurance brokers. We will appreciate that our choice of Uyo for the CEOs’ Retreat will be the beginning of mutual and beneficial relationship between the Council and the AkwaIbom State Government,” Shola said.

NCRIB boss while speaking on the conference theme ‘‘The Future Broker’, he said, the theme was carefully chosen considering the recent advancement being faced by all professions around the world and charged the people to always patronise insurance brokers for all their insurances.He said one of the cardinal mandates of the Nigerian Council of Registered Insurance Brokers is to offer opportunity of continuous training and retraining to its members across all strata, towards making them more adaptive to the changing dynamics in their operations.

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