Insurance: A new Gold Mine for Gombe State

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The Commissioner for Insurance, Alhaji Mohammed Kari, has said the collaboration between Gombe State and the National Insurance Commission on insurance matters will help increase the internally generated revenue of the state.

He said this when he led a delegation of the commission on a visit to the Governor of Gombe, Alhaji Ibrahim Dankwambo.

“While the collaboration will result in increased insurance penetration and written premium income for the industry, it will also create another veritable source of Internally Generated Revenue for the state government,” he said.

Kari said the commission had the intention to establish a mutually beneficial relationship with the state and that it was seeking the government’s support and collaboration in the implementation and enforcement of compulsory insurance products in the state.

He said that though the laws establishing these products were federal laws, they could easily be domesticated by state governments and enforced within their respective boundaries.

Kari appealed to the Gombe State Government to commence the process of domesticating the laws if it had not already done that, especially with respect to buildings under construction.

“Our proposed collaboration will hopefully stem the proliferation of fake insurance in the state and ensure the people enjoy the benefits inherent in the consumption of genuine insurance products,” he said.

 

Source: Punch