NCRIB adherence to professionalism, undisputable - Shoderu

Chuks Udo Okonta

In realisation of the need to promote professionalism and embed high ethical standards among insurance brokers, the Nigerian Council of Registered Insurance Brokers (NCRIB) has reiterated that it would spared no available opportunity to chastise charlatans practitioners.

The council, apart from stringent registration procedure and robust induction programme for new members under its Membership Committee, disciplinary and investigation committees have been reinvigorated for unbiased decisions on cases brought before them.

Speaking at the 2014 Annual General Meeting of the Council held on Tuesday October 21, 2014 at Transcorp Hilton Hotel, Abuja, the Council’s President Ayodapo Shoderu explained that the council would not fold its arm to allow its members being disenfranchised.

The council is engaging National Insurance Commission (NAICOM) on a very silent but robust and result oriented discourse over the recent deregistration of some of the council’s members by NAICOM, stressing that hopefully, within a very short period; the issue would be fully resolved. He added that through the council’s intervention, NAICOM has invited some of the deregistered brokers to update their registration and commence operation.

The Capacity building initiative has been up scaled to underscore the imperative not only for continuous learning but also to create and sustain a learning organisation. The Chief Executive Officers and other Principal Officers Retreat has continued to add value to members in terms of both technical and soft skills acquired by members.

The last retreat held in Abeokuta themed “Winning Corporate Bids” was quite instructive as searchlight was beamed on critical requirements for bid submissions. A session on guidelines for NAICOM Regulatory Returns was anchored by the Commission’s representative to the delight of delegates.

Realising the compelling need to manage the existing cordial relationship with the National Insurance Commission (NAICOM) in particular, and the other industry’s constituent bodies, the Council has strengthened her relationship with the commission, the Nigerian Insurers Association and the Chartered Insurance Institute of Nigeria. It is heart-warmingthat the council has continued to receive the commission’s cooperation in reducing unwholesome practices in the industry.

While NAICOM has maintained a good stand as arbiter between insurance brokers and underwriters, it has also continued to facilitate adherence to ethics and professionalism through collaboration with the council on implementation of the NCRIB Act. It is on the record that members have benefited from this formidable relationship through reduction in levies charged by the commission.

It is worthy of mentioning that the process for conferment of Fellowship by the council has been rejigged. The board of fellows has now put in place thesis presentation on topics of choice as prerequisite for award of the apex certificate, the intention is to put the NCRIB at per with other reputable professional bodies in conferment of the honour.

The vista of mutually beneficial relationship with bodies like CIIN, NIA, ILAN, RIMSON is inclusive of, but not limited to capacity building initiative for members of these constituent bodies. We have extended hand of fellowship to NIA, with the aim to have a round table meeting to resolve all differences between Underwriters and brokers, we await NIA’s response.