Chuks Udo Okonta
The National Insurance Commission (NAICOM) has been called upon to examine what the Nigerian Council of Registered Insurance Brokers (NCRIB) intended to achieve with the failed bill and possibly align the desires with its regulatory frameworks.
The stakeholders who took time to comment on the failed bill on the social media, urged the various arms of the industry to cooperate with NAICOM, whilst enjoining NAICOM to embrace NCRIB, educate and convince the body that it can achieve its aims and objectives better if both parties work together.
"Some great news there that the NCRIB bill was killed. But I don't want to believe it is over. NAICOM must listen to NCRIB and also go behind the scene to understand the reasons for the attempted murder of the peace the Industry enjoys. I am tempted to believe that NCRIB believes it will solve a problem or gain some mileage by severing its link with NAICOM.
"Either way it may be, the Commission should educate, convince and embrace NCRIB to let the body understand that it can achieve its aims and objectives better, and indeed also for all other stakeholders, if they are under the supervision of NAICOM. I am not suggesting that the Commission should beg anybody to allow it do its work but the job would be easier with the cooperation of all," a stakeholder said.
They called on operators in the industry to join efforts in making laws that will move the industry forward instead of undertaking sole decisions that will divide the fragile industry.
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