N2.2bn Insurance Disputes Settled In 2013 – NAICOM

The National Insurance
Commission (NAICOM) says it assisted in settling insurance products disputes worth N2.2 billion in 2013.
The Head, Corporate Affairs of the commission, Mr Salami Rassaq, disclosed this to journalists on Thursday in Abuja.
Rassaq said that the amount was from 61 disputes out of the 193 complaints NAICOM received in 2013.
He said that some of the complaints were from insurance companies, insurance intermediaries and legal practitioners, while the cases settled ranged from vehicle, life, fire, death, among others.
“These disputes were resolved through correspondences, adjudication meetings and direct contact with the insurance companies.
“The settled cases amounted to N2.2 billion,’’ he said.
Rassaq said that the remaining cases would be resolved soon.
“The commission in the first quarter of this year has also successfully settled a total of 15 complaints which are yet to be paid,’’ he said.