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The National Insurance Commission (NAICOM) has today Wednesday, September 1, 2021 commenced online live operations of its activities.
NAICOM stated this in a circular, signed by its Director, Policy & Regulations, Leonard Akah, for the Commissioner for Insurance, Sunday Thomas, dated August 27, 2021 and entitled; adjustment of NAICOM operations and sent to all Managing Directors/ Chief Executive Officers of all insurance institutions.
The insurance industry regulator noted that the import of the adjustment was that effective from September 1, 2021, its operations will transmit from manual to online processing and all operational activities or issues concerning insurance institutions that requires the commission’s attention, comment and approval will be submitted and processed via NAICOM Licensing System.
It noted that consequently, all insurance institutions are required to align their operations to NAICOM Portal for submission and processing of all requests such as certificate of registration/renewal; approval -In-Principle (AIP); product authorization; micro insurance; takaful insurance; letter of request; financial statement approval; enforcement action; governance and complaints issues amongst others.
NAICOM urged the operators to noted that from today, there shall be no more manual submission of requests/application, expect online through designated portal.
The regulator said all enquiries on the adjustment of NAICOM’s operators should be sent to portal@naicom.gov.ng, adding that maximum compliance with the directives is required.
