ILAN seeks NAICOM help on payment of professional fees, ISS levy

Immediate past President Institute of Loss Adjusters of Nigeria Oladiipo Olanrewaju address members of the institute at the event

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Chuks Udo Okonta

Following the signing of the Nigerian Insurance Industry Reform Act (NIIRA) 2025, the Institute of Loss Adjusters of Nigeria (ILAN) has sought the intervention of the National Insurance Commission (NAICOM) over what it called concerns affecting its members operations.

Immediate past President of ILAN Oladiipo Olanrewaju, disclosed this today at the Institute’s Annual General Meeting in Lagos, adding that the concerns are; the payment of of professional fees earned by loss adjusters and payment of the corresponding ISS levy.

He submitted that the Institute has forwarded the concerns to NAICOM and it is expecting the commission’s response.

Past Presidents of the institute Lehigh Omoboyowa and Reginald Egbuniwe at the event.

He implored members with their renewal due to submit their applications in line with the current process as they have previously done, until the institute receives appropriate feedback and way forward from NAICOM.

He commended NAICOM and all stakeholders in the insurance sector for pushing through the enactment of a new insurance law, stressing that NIIRA is a revolution in the insurance industry.