The Institute of Loss Adjusters of Nigeria (ILAN) has called on the National Assembly to speed up efforts in awarding it a charter status.

Mr. Darlington Mgbojikwe, President of the institute who made the assertion in Lagos noted that the institute on its part is working hard to ensure that it is accorded a charter status.

According to Mgbojikwe, the charter status achievement will certainly redefine the loss adjusting landscape in Nigeria.

In his word, “The Insurance Act 2003 had provisions, if strictly applied, takes care of most legal requirement for it to operate as a full-fledge institute. However during the last AGM, I promised to speed up actions towards acquisition of our own charter status as the case in U.K”.

Mgbojikwe, who was re-elected as the president of the institute following his unopposed re-election at the annual general meeting that took place in the institute’s secretariat in Lagos recently, noted that he will continue to pilot the affairs of the institution in cordial relationship with the members.

While briefing members on the performance of the institute for the last financial year, Mgbojikwe stressed that a major thrust of his administration is the upliftment of the loss adjusting profession in Nigeria.

This, he said, is being achieved partially by making the loss adjuster to take her rightful position in the insurance industry, upgrading the quality of services rendered and by making him or her earn a commensurate income.

According to him, “This area of commensurate income, as at today, is posing the greatest challenge for us. Individually and corporate wise. The job of the loss adjuster is very hazardous, we could be harmed by an aggrieved claimant whilst carry out an assignment. We are expose to air, road traffic accidents and all other sorts”.

Speaking further, he noted that adjusters are not well remunerated; thus cannot even afford brand new cars nor live in exotic neighbourhoods like other counterparts in the other arm of the industry.

The ILAN president lamented that their undoing in Nigeria, is that loss adjusting is the only profession where the consumer approves the tariff for computing the fee and not on “time spent basis” as practiced in other parts of the world.

The scale system, he stated, has jettisoned in many developed economics for a more progressive system of charging on heavily rates. The umbrella body of insurers in Nigeria – Nigeria Insurance Association (NIA) – would just do everything to frustrate a change of system or even a modest upward review of the existing scale, he lamented.