Monday 17 March 2014

NAICOM, underwriter plan road show on micro-insurance


Daniel

Chuks Udo Okonta

 

The National Insurance Commission (NAICOM) and an underwriter are to organise a road on micro-insurance very soon, the Commissioner for Insurance Fola Daniel, has said.

He disclosed this in Lagos, adding that the exercise would help educate the public on the benefits of insurance and by and large deepen penetration on micro-insurance.

He noted that the commission is poised to collaborate with any organisation that is desirous of making positive change in the industry.

“A company wrote us that it wants to do a road show on micro-insurance, we granted the firm approval and urged it not to do it alone, but allow us be part of it. We have agreed to have joined funding on the project.”  

Micro-insurance is one of the recent measures taken be NAICOM to deepen insurance penetration in the country. The commission has pegged the paid-up capital for Life Micro-insurance business and N150, 000,000 and General Micro-insurance business for N200, 000,000.

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