NAICOM creates unit to drive insurance in MDAs



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Chuks Udo Okonta

The National Insurance Commission (NAICOM) has setup an internal unit to assist government’s Ministries, Departments and Agencies (MDAs) structure their insurances, and ensure all government’s assets are properly insured, Inspen has learnt.

The Commissioner for Insurance, Mohammed Kari, who disclosed this in an interview, said the commission had sent a circular to the MDAs and key government officers to intimate them on the need for proper insurances of government assets.

“We have setup an internal unit that is specifically, assigned to handle public sector insurances and advices. Towards that, we issued a circular this week to all Ministers; Ministries; the Head of Service; Secretary to the government; Permanent Secretaries; Head of MDAs, including the the Chief of Staff to the President. Highlighting to them the role of NAICOM is ensuring that the insuring public are insured properly.

“The unit will assist the MDAs in structuring their insurances properly. We have given them a template on information to give. Like how we can access government assets that need insurance, and we are going to work jointly with the Minster of Finance and the Budget office to ensure that these assets when identified and valued appropriately are provided for in the budget and paid for the purpose of insurance,” he said.

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