Kari urges insurers to embrace change

 

Former Chairman Nigerian Insurers Association Olusola Ladipo-Ajayi administering the oath of office to Lady Chukwuma at the event.

Chuks Udo Okonta

The Commissioner for Insurance and Chief Executive Officer (CEO) of the National Insurance Commission (NAICOM) Muhammed Kari, has told insurance operators to embrace change and shun unethical practices to enable them move the industry forward.

Kari disclosed this today at the investiture of Lady Isioma Chukwuma as the 47^th President of the Chartered Insurance Institute of Nigeria (CIIN) in Lagos. He noted that this is the era of change; therefore, the industry certainly cannot be left behind in the scheme of things.

“As we are aware, this is the era of change. The insurance industry certainly cannot be left behind in the scheme of things. I therefore urge the CIIN to uphold and encourage its members to adhere strictly to the observance of the industry’s codes of conduct and ethics for a healthy practice of the insurance profession,” he said.  

From left: Former Commissioner for Insurance Oladipo Bailey and Commissioner for Insurance, Mohammed Kari during the investiture of 47th President of Chartered Insurance Institute of Nigeria (CIIN),Lady Isioma Chukwuma at the event.

He maintained that NAICOM as a regulator is committed to high standard of professionalism and ethical behaviour in the insurance industry so as to regain the confidence of policyholders and increase insurance contribution to the GDP.

Kari posited that if the industry must win the public apathy to the business of insurance operators must desist from unwholesome practices in the discharge of their responsibilities to the insured by playing as true professionals.

Lady Chukwuma

“In the same vein, if the industry must make progress, operators must see each other as colleagues and not enemies. We must step up our game and learn to respect each other and play by the rules,” he added.

He called on the operators to support the new president stressing that her success is ultimately the success of the industry.

He pledged supports to the development of the institute and the administration of Lady Chukwuma.

“I have known Lady Chukwuma as far back as the early 1990s; I have known her as a thorough bred professional and one that is also deeply concerned on how to defend her profession. I believe she is in a position to give the insurance industry purposeful and disciplined leadership.

“I am also convinced that she has the wherewithal to deliver and I would like to assure her that she would not lack the requisite support from all of us individually and from the National Insurance Commission (NAICOM) as an institution to make her tenure a successful one,” he said.

The newly installed President of the CIIN, Lady Chukwuma, pledged to provide the right leadership in order to expedite action on all fronts.

She identified 11 key areas she will focus during her tenure and called for supports to enable her consolidate the achievements made by her predecessors.

“As I accept the mantle of leadership, I wish to pledge with every sense of seriousness and commitment to promoting the goals and objectives of our great Institute,” she said.

The Chairman of the event, Dr Michael Ade Ojo, who is the Chairman of Elizade Motors Limited, urged insurers to sustain the landmarks already attained by the industry, adding that insurance remains the bedrock for the survival of other businesses.