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Chuks Udo Okonta
Unpaid claims presented to the National Insurance Commission (NAICOM) by aggrieved policyholders in naira terms was over N24.59 billion and $22.56 million, Inspenonline can report.
This was obtained by this medium in the recently published complaint document by NAICOM on its website, in which it stated that 1,582 complaints on claims payment had been submitted by aggrieved policyholders.
According to NAICOM, Industrial and General Insurance (IGI) got the highest complaints of 327, African Alliance Insurance 282 and Standard Alliance Insurance 229.
Determined to sanitise the insurance industry and stop frivolous excuses by insurers, NAICOM has threatened that insurance companies would henceforth pay for all cases resolved through its intervention.
NAICOM had charged insurance companies to operate ethically and live up to their claims payment responsibilities, as they have to pay for the time spent by NAICOM in resolving issues between them and their policyholders.
NAICOM also charged the operators to settle all outstanding claims and see reasons to settle claims.
Recall that the National Insurance Commission in its ongoing efforts to effectively address complaints and ensure swift resolution to all Insurance related issues has launched the NAICOM Complaint Management Portal.
The portal can be accessed via:
complaints.naicom.gov.ng
The portal offers a streamlined and user-friendly platform for addressing all Insurance related complaints.
The Commission is urging the public to effectively utilise the platform to reach out to the Commission on all Insurance related complaints.
