The National Insurance Commission (NAICOM) and the brokers’ body have agreed to deepen cooperation as the sector prepares for sweeping regulatory changes and a push to expand coverage among households and businesses in the country.
At a meeting between the regulator and a delegation from the Nigerian Council of Registered Insurance Brokers (NCRIB), the two institutions discussed aligning strategies to implement the Nigerian Insurance Industry Reform Act (NIIRA) 2025, strengthen market discipline and broaden awareness of insurance benefits among Nigerians.
Speaking at the meeting, the Commissioner for Insurance, Segun Omosehin, commended NCRIB’s role in promoting professionalism and compliance among brokers, describing the body as a key partner in the effort to make insurance more relevant to Nigerians.
He urged the council to work closely with the commission to ensure the new reform law translates into tangible gains for policyholders and investors, adding that enforcement of its provisions would determine its success.
