National Insurance Commission (NAICOM) said it has commenced a two-year licence renewal regime for insurance brokers and loss adjusters. Director, Policy and Regulation Directorate, Pius Agboola, in a paper on Monday, during a seminar for insurance journalists, disclosed that NAICOM had already released a guideline for the extension of licences of brokers and adjusters to two years. While clarifying that no insurance company had yet met the recapitalisation requirements, Agboola said the commission will also soon embark on verification of capital. The move he said was aimed at repositioning the sector for self-actualisation in terms of growth and development. The Commission shall continue to deploy more energy and resources in building public trust and confidence in insurance despite years of poor perception, he promised.

Source: Nigerian Tribune January 06, 2020 17:15 UTC