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Chuks Udo Okonta

The National Insurance Commission (NAICOM) is injecting new blood into the Market Development and Restructuring Initiatives (MDRI) to ensure the objectives are achieved.

The Commissioner for Insurance, Mohammed Kari, said the commission is strengthening the initiative to deepen insurance penetration.

He noted that the plan of NAICOM under his management, is to continue all the initiatives which for one reason or the other had been delayed or not been implemented properly.

“The MDRI is an initiative we would continue with, because it was designed to help penetration of insurance and we can still do a lot on that. What we have done to strengthen the implementation, is to set up an internal unit that is specifically, assigned to handle public sector insurances and advices,” he said.

Recall that NAICOM, had accused underwriters of not taking advantage of the opportunities created via the initiative, which was designed with focus on the Enforcement of compulsory insurance products, Increase insurance awareness, Reduction in incidences of fake insures/insurances and Increase agency reform.

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