Business
NCRIB Delists Unregistered Firms
The Nigerian Council
of Registered Insurance Brokers (NCRIB) has announced that unregistered insurance broking firms have been delisted from its records.
Speaking to newsmen in Lagos on Monday president of NCRIB’ Mr. Kayode Okunorem, said only 21 out of the 87 insurance companies delisted were members of the NCRIB.
Kayode said the delisting was done by the National Insurance Commission (NAICOM) for non compliance with relevant provisions guiding operations of the insurance broking firms, stressing that NAICOM has delisted 108 brokerage firms as recently advertised from its record.
The council’s president said the council did all its best to protect its members through all frantic efforts to ensure that the affected brokers forms were protected, adding that members of the council were not happy that any operator in the market should flout regulatory requirements as stipulated in the law guiding the operations of the firms.
He said the council will never treat the issues of compliance with levity, stressing that the regulatory environment of today requires more discipline than hitherto.
Kayode also appealed to NAICOM to always ensure sustenance of effective communication channel with the NCRIB to notify its members in good time on any aspect of compliance.
The NCRIB president said that the council was poised to give a new direction to members of the council through effective communication as articulated in a nine-point agenda presented during the council investiture last year.
Kayode pledged the determination of the council to take the broking profession to a lofty heights in order to sustain the council’s renewed promise of open door policy to all registered members.
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