NAICOM to name, shame insurers with unpaid outstanding claims

Sunday Thomas

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Chuks Udo Okonta

The National Insurance Commission (NAICOM) said it has mandated all insurance companies to commence publications of all outstanding claims in their records.

The Commissioner for Insurance Sunday Thomas, said this yesterday at the cocktail of the ongoing 2023 NAICOM Conference for Insurance Journalists in Uyo, Akwa-Ibom State, adding that the Commission had written the operators and given them enough time to sort out all outstanding claims and begin publications in national dailies.

Thomas noted that there would be consequences for hot adhering to the mandate. Of which Inspenonline learnt is naming and shaming erring firms.

He submitted that NAICOM has done a lot to ensure insurance companies live up to their responsibility as regard payment of claims.

He urged the public to revalue their assets due to inflation so as to have claims that meet the present cost of asset.

The NAICOM boss implored Nigerians to manage their risks through insurance, especially now that cost of replacement of lost or damaged assets is at the rooftop.

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