CHRIS EBONG, Asst Bus, Editor
Determined to reposition insurance industry for better performance and make significant contribution to the economy, the National Insurance Commission (NAICOM), has moved from Compliance Regulation to Risk-Based Supervision (RBS).
THE National Insurance Commission (NAICOM) says the insurance industry reform programmes such as International Financial Reporting Standards (IFRS), Code of Corporate Governance (CCG) and the Risk-Based Supervision(RBS) carried out by it are all globally induced and Nigeria’s insurance industry cannot afford to operate in isolation in the global financial sector.
CHRIS EBONG, Asst. Bus. Editor
Claims administration is a major component of risk management. In an industry where members of the public clamour for indemnification when loss occurs the only language understood by a policy holder is claims payment.