Insurance Operators must play by the rules – NIA

The Director-General of Nigeria Insurers Association (NIA), Mr Sunday Thomas, last weekend advised insurance operators to play by the rules in the industry.
Thomas gave the advice while reacting to the “Name-and –Shame’’ policy that would soon be adopted for operators by National Insurance Commission (NAICOM).
He said in Lagos that the policy was to sanitise the sector and advised operators against being labelled the black sheep of the industry.
“My advice to members is for them to avoid being referred to as the black sheep of the industry.
“The policy is a weapon that will be deployed if the need arises henceforth.
“But, we are saying that we should not get to a point where we will start disgracing operators,” he said.
Thomas said that any insurance operator that would not abide by policies governing the insurance industry would be heading for a “crash”.
He said that any operator would be putting his business at stake should he get involved in any shady deal or failed to honour a genuine claim.
It would be recalled that  the Commissioner for Insurance and Chief Executive of NAICOM, Mr Mohammed Kari, on November 19, hinted that the commission would adopt the new policy.
Kari said that the new policy would restore sanity to insurance practice and deter bad behaviours among operators.
He said that the perception of the industry by Nigerians was not good.
“You find majority of people that tell you insurance is not good even when they don’t have any insurance policy.
“It is just what somebody told them that they have amplified without having a personal experience,” Kari said.