Insurers must bequeath good legacy to young professionals – NAICOM


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Chuks Udo Okonta

Young professionals that are eager to join the noble insurance profession must be bequeathed a good legacy to emulate, the Commissioner for Insurance, Sunday Thomas, has charged underwriting practitioners.

He gave the charge when addressing insurance practitioners at the recently held 2022 Chartered Insurance Institute of Nigeria (CIIN) Professionals’ Forum in Abeokuta, Ogun State.

Thomas noted that the integrity of insurance business depends solely on the level of integrity, displayed as professionals in the business, stressing that the image and future of insurance business in Nigeria depends majorly on how practitioners uphold and encourage members to adhere strictly to the observance of the industry’s codes of conduct and ethics.

He maintained that the past 60 years of the CIIN have been eventful no doubt, adding that the Institute has grown its membership base and achieved immensely in various aspects of insurance education development in the country, public awareness, project “catch-them-young” and others.

“We must look back and assess our achievement in the past years from professional education to ethical behavior of our members.

“Taking a peep into the past from where we are coming, a lot could be said to have been achieved but, in another breath, we must acknowledge the fact so much is still needed to be done,” he posited.

He submitted that the Commission believes that the Institute nay the insurance sector in Nigeria will continue to get better if only all stakeholders continue to collaborate and cooperate as professionals.

The long-standing issues on ethical behavior in the industry, he stated can be said to have significantly improved over time, adding that young professionals that are eager to join the noble insurance profession must be bequeathed a good legacy to emulate.

The CFI said the founding fathers of the CIIN did lay a solid foundation with the big dreams of berthing a world class educational Institute designed to fill the void that existed then for the baking of thorough-bred insurance professionals.

He said the Institute is charged with the general duty of determining the standards of knowledge and skills to be attained by persons seeking to become registered members of the insurance profession in Nigeria, thus, the burden to ensure standards, professional ethics and discipline lies with the institute.

“We may want to ask ourselves in our quiet moments if these lofty dreams of the founding fathers which I can say was once achieved is being sustained,” he queried.

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