The Institute of Loss Adjuster of Nigeria (ILAN) has set up a five man Ad-Hoc Committee to review the suspension of its examination by the Chartered Insurance Institute of Nigeria (CIlN).
ILAN immediate past president, Chief Lebi Omoboyowa made this known at the institute’s Annual general meeting held in Lagos.
Omoboyowa said the institute is witnessing turbulent times in this area of its activities in recent months.
He said: “On 22nd December, 2014, a letter suspending ILAN from conducting its examination was received from CIlN relying on the section of their charter which makes them the only body to provide insurance education in Nigeria.
“Various approaches have been adopted by the Committee and the Council to resolve the issue. The matter has been taken to Insurance Industry Consultative Council (IlCC) for their intervention.“CIlN, however, wrote ILAN asking us to make input into their on-going syllabus review. The current position is that they have requested for our syllabus as they intend creating a more all-embracing examination syllabus whereby those candidates who wish to go into loss adjusting will choose those subjects that are relevant to this field of practice.”
He said the Council is already working hard to present a position paper and input into CIlN examination syllabus in such a way that the interest of ILAN as a member of the International Federation of Adjusting Associations is not jeopardised.
He appealed to the institute’s students who are writing or intend to write our examination to bear with ILAN as these policy issues would be resolved shortly.
Speaking on the request of increase in the institute’s scale of fees by underwriters, the president said it had become clear that the umbrella body of the underwriters, the Nigeria Insurers Association (NIA) would not review its fees.
“Despite our unrelenting efforts in trying to get the NIA meet with us and carry out a long overdue review of our Scale of fees, it is clear that the NIA are not willing to carry out a review.
“It was in this light that suggestions were made during one of our CEO meetings that we adjusters need to seriously consider alternative sources of income; the most acceptable suggestion being that we increase the scope of our services to include Loss Assessors, thereby offering our skills to the insuring public, may be through an alternative registered company in that regard.”
He further said the institute’s quest for a Charter has for some time been put on hold. This was due to the political situation in the country and the decision by your Council not to risk their funds on an exercise with a very uncertain outcome.
He said now that a new legislative session has come in, the incoming Council may wish to continue from where we stopped. It must be stated that we are facing a lot of challenges within the industry on this.
“This notwithstanding, it is the opinion of your Council that nothing in the current legislation prevents us from seeking a Charter. It is a constitutional right and to succeed we need to have the committed support of all our members,” he noted.