Chuks Udo Okonta
The Nigerian National
Petroleum Corporation (NNPC) has appointed 42 insurance brokers for it’s over N50
billion insurance risks, for this year, Inspen has learnt.
Our investigations revealed
that the corporation has paid part of the premium, while negotiation is still
ongoing for payment of the outstanding. Efforts made to get the amount paid and
the outstanding was unsuccessful, as those reached could not confirm the
amounts.
A reliable source at the NNPC,
said the outstanding may be paid next week after the negotiations have been
concluded.
It was also learnt that the some
appointed brokers having successfully placed the risks with reliable local
underwriters, have collected their commissions as specified in the new premium
collection and remittance law.
The 42 brokers as against 14
appointed last year, were assigned oil and gas and non oil.
President Nigerian Council
of Registered Insurance Brokers (NCRIB), Mrs Laide Osijo, who was excited over
the development, said she appealed to the corporation when only 14 brokers last
year.
She said: “I told them that
we have almost 500, and every one of us is studying oil and gas, we are all
attending courses to improve our knowledge on oil and gas. In our last
programme in Canada, we did courses in oil and gas, last year we did oil and
gas programme in Dubai. Many brokers are attending conferences because they
want to improve their knowledge. I am very happy about the increase this year.
“As the President of NCRIB,
I want to commend the NNPC for prompt payment of premium. Immediately the
business was giving, they complied with the No Premium No Cover rule, and paid
the premium. All the brokers that were approved for the business have taken their
commission, which is highly commendable. With the payment, when claims occur,
definitely underwriters will pay their claims. Brokers will help the NNPC in
ensuring that the claims are paid promptly too.”
She noted that though, I she
was not among the brokers selected, but as the President of the brokering
fraternity, she is pleased that her people are well represented.
“I commend the effort of the
NNPC for giving them that opportunity; I am sure that by next year, they will
increase the number again. By that time, most of us would have gathered the
required experience. I appreciate them for exposing more of my members to
knowing oil and gas, which will also help us in developing human capital.
“I am using this opportunity
to appeal to other ministries departments and agencies of government to follow
suit. So far, so many MDAs have paid their premiums and we want others to do
so. I must commend the efforts of the Federal Government for assisting the
insurance industry in growing the Gross Domestic Product (GDP) and adding more
to the economic growth of the nation,” she said.
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