Insurance

NAICOM besieged by applicants seeking broking, loss adjusting licences

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Chuks Udo Okonta

The National Insurance Commission (NAICOM) has said it is presently receiving
high inflow of registration requests for new insurance brokers and loss adjusters.

NAICOM stated this in a publication published on its website, noting that due to high inflow of registration requests for new insurance brokers and loss adjusters and the need to reduce the turnaround time in processing these requests, it will henceforth carryout registration process twice in a year.

The insurance sector regulator maintained that the registration processes would also entails that the first cycle will commence from March and ends in May with issuance of licence/operating certificate, while the second cycle will commence from August and ends in October with the issuance of licence/operating certificate.

“Only complete documentation will be received and processed by the Commission.
Any request received but not concluded before the end of any cycle due to late submission or any other of the applicant shall be carried over to the next cycle,” it posited.

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