Insurance

NAICOM refutes forcing insurance companies to donate towards COVID-19

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Chuks Udo Okonta

The National Insurance Commission (NAICOM) has refuted an online report that it forced insurance companies in the country to make donations toward the fight against Coronavirus (COVID-19) in the country.

An Online News Channel had today, reported that NAICOM in a letter to registered insurance companies compelled the companies to make donations of not less than N10 million to the fight against Coronavirus.

The spokesman for NAICOM, Rasaaq Salami, in a telephone conversation, expressed the Commission’s disappointment over the news, describing it as not only false and misleading, but mischievous.

He explained that the commission only called on the companies to join in providing support for government at all levels to the fight against Coronavirus in the country.

“This report is not only false and misleading but mischievous. It is a deliberate attempt to embarrass the Commission.

“No insurance company is being compelled or forced to contribute to the COVID-19 fund. NAICOM only requested the support of insurance companies further to the agreement between her, the Nigeria Insurers Association (NIA) and the Nigerian Council for Registered Insurance Brokers (NCRIB) for a coordinated effort towards making a consolidated contribution to the fund as an industry,” he said.

He urged the public to disregard the report as it isn false and bias.

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