Chuks Udo
Okonta
Insurance
operators have resolved to meet the Federal Head of Service (HoS) to sort out
issues surrounding last year’s outstanding group life premium and that of the
present year.
The
operators in a meeting held under their umbrella body, Nigerian Insurers Association
(NIA) agreed to make their feelings known as the issues pose great threat to
their business.
Director-General, NIA, Sunday Thomas, said
the decision to meet the government has become necessary, because operators cannot
continue to sell services on credit and when claims come they pay. He added
that non payment and delays are not good for business, as operators need to
invest the money they realised as premium to able them pay claims.
He
said: “For the first time the industry is taking the decision to face the reality.
“We
have decided to take the bull by the horns by letting government know that the
industry is under threat and that unless the government begins to show support
for the sector, other corporate clients will continue to take the industry for
granted.”
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