NIIRA: NCRIB unlocks insurance potentials empowers brokers to attend CDA meetings
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Chuks Udo Okonta
The Nigerian Council of Registered Insurance Brokers (NCRIB) has empowered its members to attend Community Development Association (CDA) meetings and explore enormous opportunities provided by the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
The outgoing President of the NCRIB Babatunde Oguntade, said this at a press conference in Lagos, noting that brokers have been enjoined to take campaigns on insurance to the grassroots where the NIIRA 2025 has provided enormous insurance opportunities.
According to him, NIIRA 2025 has opened up space for rural broking practice, noting that brokers can now do businesses covering insurance of fueling stations; buildings and buildings under construction amongst others.
Oguntade said NIIRA 2025 is the hope of the hopeless, adding that brokers are now designing products in collaboration with insurers that policyholders can buy on the go.
He said brokers presently contribute 70 per cent of the insurance Industry’s insurance revenue, adding that brokers are the hope of policyholders.
He implored the public to patronize only registered insurance brokers, stating that they are the only professionals in the insurance value chain with professional indemnity to cater for wrong counsels given to policyholders.
