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| Nwuche |
Chuks Udo Okonta
Most challenges faced by insurance operators stem from them, the Chairman,
Governing Board, National Insurance Commission (NAICOM), Chibudom Nwuche, has
said.
He disclosed this in Lagos, adding that the onus is really on the operators
to address the challenges clogging developments in the industry.
He said: “We are not unmindful of the fact that there are indeed some
challenges encountered by you in the course of doing your business. But you
will agree with me that while some of these challenges are certainly beyond
your immediate control, a lot of the challenges are self-inflicted. So, the
onus is really on you to address these challenges.”
He noted that whilst NAICOM continues to operate within the confines of all
extant laws, all practitioners in the sector must operate with the rules and
internal norms as a means towards deepening public trust and enhancing
contribution to the nation's Gross Domestic Products (GDP).
Nwuche noted that in carrying out the industry’s statutory responsibility, no
one or group should be excluded from compliance with the rules and regulations,
stressing that indeed, there shall be no sacred cows, as nobody will be allowed
to be above the laws.
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