ACCEPTANCE SPEECH DELIVERED BY PASTOR DIIPO OLANREWAJU AS PRESIDENT OF ILAN AT OCTOBER 2022 AGM
I want to start this acceptance speech which I have titled “WHERE ARE WE AND WHERE ARE WE GOING?” by thanking God Almighty for sustaining this Institute over the last 40 years.
Due gratitude and recognition also goes to all past leaders who have played their roles with great commitment. I must especially appreciate the immediate President for a wonderful relationship and a job well done over the course of his tenure.
I have the understanding from God’s word that “By much slothfulness the building decayeth; and through idleness of the hands, the house droppeth through” (Ecc.10 vs 18). Therefore, I believe that if this Institute must build on the previous strides and achievements, we must purposefully continue to remove slothfulness, idleness and apathy towards our Institute.
The challenges before us are many, but we MUST find a way to surmount them. It is on that direction I wish to address the areas of focus this new administration is geared towards.
Our Institute cannot progress at the pace we want unless our members take time off their tight schedules to attend meetings. It is indeed our collective responsibility to make some sacrifices. In the past, the CEO monthly meeting was active but today, attendance at meetings is nothing to compared with what it used to be.
We must bear in mind that decisions are taken at these meetings and these decisions will impact every member of the Institute despite your absence from the respective meetings.
To this end, we urge every member to be intentional about attending our meetings and events. On our part, the executive arm/council will do everything to renew the interest of individuals in the activities of the Institute.
It goes without saying that our strength lies in our membership. Unfortunately, even within the Institute, we do not have records of individuals engaged in our members’ firms. Whilst we are interested in opening the window to prospective external members, staff of all members’ firms need to register with the Institute for good order, proper planning and development.
The membership advantages are numerous and should not be taken for granted. As I stated, we shall also not close our doors to prospective members willing to come into the profession and our Institute, and we will advance working relationship with CIIN towards commencing the examination exercise as the immediate president has said in his speech.
In 1995, Chief P.O. Egbuniwe reported to the house the acquisition of this very building and he said and I quote “I am happy to announce that we have been able to purchase a building at 2A Fagbile Street, Surulere, Lagos. This building is now evidently an old building, but it can be modernized and further developed because it has sufficient undeveloped space”.
The question is how were they able to achieve the initial purchase? they taxed themselves. We must be prepared to build the legacy bequeathed to us by our past leaders, and I hope that we are all ready to pull our weight towards this.
Permit me also to refer to Chief Olayinka Omilani’s advise in 1989 that the Institute should endeavor to let the insurance industry know about what we do and how we operate, otherwise we risk the danger of misrepresentation and reduced relevance.
Sadly, those who have no understanding of what we do give us conditions on how to operate. We must now adopt new ways to strengthen our position and cement our relationship with other bodies.
I call them unregistered loss adjuster. These individuals go by other names such as consultants and surveyors. They are not expected to adjust claims but they are engaged by underwriters. This administration will not hesitate to report such underwriters.
We shall strive to eliminate the unregistered loss adjusters in the Industry.
It is unfortunate that our constitution remains unperfected and unavailable to members. We shall vigorously look into this and make it handy to all members.
Efforts have been made in this direction by the past administrations to obtain the Institute Charter. We all agree that this is long overdue and we will continue to direct efforts towards having our Institute Charter.
SCALE OF FEEA very hard nut to crack. The global economy has consistently affected the income of Loss Adjusters greatly, thus, the rate that was approved in October 1992, that is about 30 years ago, can no longer pay adjusters bills. It is highly necessary for this to be reviewed upward. We shall achieve this with constant meetings with the NIA Council.
Let me round up this acceptance speech by quoting Chief P.O. Egbuniwe statement in 1995. He said “The loss Adjusters are comparatively small firms providing highly specialized services to a market that is dominated by giant insurance companies.
Our emblem depicts ‘’ justice and fairness’’ if we are to uphold the tenants of this emblem, then we must always strive for competence and integrity.
The code of ethics jointly operated by all bodies should be our ‘bible”. We cannot jettison the tenant of competence and integrity in our progress to become a force in the insurance industry.
Therefore, we should see ourselves as partners in progress bearing in mind that our collective aim is to serve the insurance industry better, from whom we do earn our living.
If in our own little way, we pursue the progress and success of the insurance industry, our respective future as an Institute will also be assured.
Finally, I must put on record the roles played by Alhaji Shamsideen Hassan, former President ILAN for competent advice and encouragement.
I look forward to working cooperatively with you all for the success of this administration. Thank you.
Pastor Diipo Olanrewaju
President, Institute of Loss Adjusters of Nigeria