Embrace New Reforms; NAICOM Tells Insurers

The Commissioner for Insurance, National Insurance
Commission (NAICOM), Mr Fola Daniel, on Thursday advised insurance
practitioners to embrace new developments in the industry.

Daniel made the appeal at the 2012 Chartered Insurance
Institute of Nigeria (CIIN) Professional Forum in Ibadan.

According to him, what seemed to be standard exclusions to
some classes of insurance in the past are now seen as stand-alone cover.

“New developments arise everyday to challenge what we knew
and the way we have done things in the past,” he said.

The commissioner said that a professional would not be
better than a non-insurance professional if he failed to recognise new
developments.

According to him, practitioner should look beyond
professionalism and ‘think beyond the box’ in line with global changes.

Daniel said that in making a difference, the practitioner
must demystify the insurance profession.

Dr Wole Adetimehin, the CIIN President, said that the theme
of the forum was a call to practitioners to brace up for the challenges facing
the global economy.