NIA Set To Enforce Ethics In Insurance Undertaking

The Nigerian Insurers
Association (NIA) has resolved to reverse the trend of unethical practices that have characterised the fortunes of insurance business in the country.
In a statement, the chairman of NIA, Mr Godswill Wiggle said that the jettisoning of basic insurance principles had robbed the industry of its expected place in the scheme of the nation’s economy.
Wriggle said taking a retrospective look at the insurance business, the industry was more prosperous in the 1970s toward mid 80s with operators more united and cohesive on issues relating to market ethics, practices, stressing that such situation made the operational environment inclement for unethical players.
He said brokers and underwriters must eschew unethical practices that are inimical to professionalism in order for the industry to gain its host grounds.
He said the two bodies in the Insurance Industry Nigerian Council of Registered Insurance Brokers (NCRIB) and Nigerian Insurers Association (NIA) needed to revive their technical joint committees where issues bordering on the operation of the two parties could be resolved before the image of the profession and insurance industry is smear before the public.
He called on Nigerians to always patronised the services of insurance companies as relate to risk management as the industry has the best brokers underwriters who are professional and transparent