NAICOM takes insurance to grassroots
Chuks Udo Okonta
A draft guideline for the entrenchment and development of insurance at the grassroots has been put in place by the National Insurance Commission (NAICOM) the Commissioner for Insurance Fola Daniel, has said.
Daniel, who spoke at the seminar organised by NAICOM for journalist in Calabar, said the draft guideline on micro-insurance is being exposed to the industry, experts and other stakeholders for their inputs and contributions, adding that thereafter, the final draft will be drawn and released to the market.
He noted that the commission intends to collaborate with other relevant regulatory agencies in achieving the plan.
He said: “To underscore our commitments to the development of micro-insurance, the commission recently conducted a nationwide diagnostic study on micro-insurance in collaboration with GIZ, a German agency for sustainable development, Access to Insurance Initiative (AII) and local consultants.
“We have also put in place a draft guideline for micro-insurance business. The draft is being exposed to the industry, experts and other stakeholders for their inputs and contributions before the final draft will be drawn and subsequently released to the market.”
Daniel noted that initiative is part of the commission’s drive to open up and develop the insurance market at the grassroots and by extension, increase the sectors, contributions to the nation’s Gross Domestic Product (GDP).
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