NAICOM assures to develop methodology for Insurance Compliance

By Linda Ike

As part of the ongoing initiatives spearheaded by the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, the 2nd Meeting of the Insurance of Public Buildings and Buildings Under Construction Committee took place on Tuesday, July 2, 2024, in Abuja.

The Deputy Commissioner for Insurance, Mr. Ekerete Ola Gam-Ikon, who serves as the Committee Chairman, welcomed the committee members representing various stakeholder institutions.

In his opening remarks, he emphasized the importance of the committee’s national assignment: developing a methodology to ensure compliance with the insurance of public buildings and buildings under construction.

He said the effort aims to enhance the uptake of insurance in these sectors.

The day’s deliberations focused on identifying and exploring synergies with stakeholders, liaising with State Governors and Houses of Assembly to domesticate insurance laws for better compliance, researching similar policies in other jurisdictions, and sensitizing stakeholders on the importance of adherence to compliance with compulsory insurance.