Insurance

NAICOM plans more lasting solution to brokers, agents license renewal conundrum

NAICOM

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Chuks Udo Okonta

The National Insurance Commission (NAICOM) has said it is working hard to resolve the present challenge faced by insurance brokers and agents in renewing their operational license through the NAICOM Portal.

The Commissioner for Insurance, Sunday Thomas, said this when responding to compliant by affected insurance brokers and agents put to him by this Inspenonline.

He noted that the commission is aware of the challenge and it is planning a more lasting solution.

Insurance brokers and agents have expressed misgivings about the challenge they are presently undergoing to renew their operational licenses.

According to some agents that spoke with Inspenonline, they have been denied commission by underwriters because of their inability to present their licenses.

The affected practitioners had implored NAICOM to allow them process the renewal through the manual process which was in place before the introduction of the portal.

Inspenonline gathered that the challenge is also affecting the operation of Association of Registered Insurance Agents of Nigeria (ARIAN) as many members who are affected have not been able to meet their financial commitments to the association.

A top executive of the association told this medium that things are really tough for members, stating that he prayed that things would not get to the level where members would begin to forge their licenses to enable them remain afloat.

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