Insurance

NAICOM resolves N5.48bn claims complaints in 2016

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Chuks Udo Okonta

The National Insurance Commission( NAICOM) says it resolved 218 complaints resulting in the settlement of claims worth N5.48 billion in 2016.

A statement by the Head Affairs, Salami Rasaaq, said the Commission received a total of 413 complaints from aggrieved policyholders against insurance companies in the year under review.

He noted that the Commission held adjudication meetings and had direct contacts with all parties involved, whilst resolving the disputes.

Salami noted that the Commission is at the verge of resolving a total of 650 ongoing cases from 2014 which are all at different stages of conclusion, adding that NAICOM will continue to strive hard to ensure protection of policyholders, beneficiaries and third parties of insurance contracts.

He noted that all resolutions were in favour of the complainants, stressing that in some cases, the underwritters were right in repudiating claims.

According to him, a case was withdrawn because it was found to be fraudulent. He added that five cases were referred to Pension Transitional Arrangement Directorate (PTAD) over non payment of pension, another one was transferred to the National Pension Commission (Pencom).

He said cases that are found to be sub judice were not treated but left to the courts to do the needful, adding that Cases not resolved are still being looked at by the Complaint Bureau Unit in the Commission.

The commission however urged aggrieved members of the public to send their insurance complaints to: contact@naicom.gov.ng.

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