Modupe Gbadeyanka
By Modupe Gbadeyanka
A draft revised guidelines for Micro Insurance Operations in Nigeria has been released by the National Insurance Commission (NIACOM).
Already, the documents have been sent to the chief executive officers of all insurance and reinsurance companies.
Micro insurance is an insurance usually accessed by low income earners in the society and the aim of the product is to ensure everybody is included and to increase the contribution of insurance to the country’s Gross Domestic Product.
In a statement issued in Abuja over the weekend, Head of Corporate Affairs at NAICOM, Mr Rasaaq Salami, explained that the draft revised guidelines was released for inputs by stakeholders.
“The guidelines have already been sent to chief executive officers of all insurance and reinsurance companies.”
“They include Nigerian Insurance Association, Nigerian Council Registered Insurance Brokers, Enhancing Financial Innovation and Access for their various inputs,” Mr Salami said.
He disclosed that, “All parties have until July 24 to forward their inputs to the commission.”
