Kari (3rd left) and other participants at the event.
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Chuks Udo Okonta
Insurance operators across West Africa need to engage the Political structure of the Economic Communities of West African States (ECOWAS) to rethink the historical colonial partitions in order for them to achieve real integration.
The Commissioner for Insurance Mohammed Kari, said this in a paper entitled: Achieving Regional Integration in the Insurance Industry in West Africa Through Uniform Regional Compliance, presented at the 2017 annual insurance conference of the West Africa Insurance Companies Association (WAICA) in Banjul Gambia.
He noted that the issue of regional integration has remained in the front burner of virtually all WAICA conferences, stressing that insurers need to accept that they cannot achieve much by themselves as an industry, and that they need to engage the ECOWAS political structure to recognise the need to rethinks beyond the historical colonial partitions and integrate the CIMAs and WAICAs of the sub- region to achieve real integration.
He maintained that based on available facts, it would be hard to achieve the dream of regional integration.
He went further to identified, different laws and regulations of the jurisdiction; insecurity; inadequate capacity of supervisory authorities; political, government and industry interferences amongst others as hindrances to achieving the dream of regional integration.
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