Who wants Nigeria’s Insurance Market reviewed…….?

Nike Popoola

 

The National Insurance Commission has said that it will reintroduce the Market Development and Restructuring Initiatives but with some adjustment.

The Commissioner for Insurance, Alhaji Mohammed kari, said this during the second edition of the National Insurance Conference held in Abuja.

The theme of the event was ‘Expanding national resources and infrastructure in challenging times’.

He said, “To address the medium and long-term challenges of penetration, the commission is on the verge of relaunching the MDRI. The initiative originally launched in 2009 is being reviewed for the immediate impact we believe it will provide.”

Kari said that if properly implemented, it would bring the desired result as envisaged.

He also said efforts were being focused on the medium and long-term impetuses required to provide the quantum leap the industry desired to be able to contribute to the national economy.

The Chairman, Insurance Industry Consultative Forum,  Mrs. Isioma Chukwuma, said the conference intended to amplify the cardinal objectives of the IICC, which included to engender a platform for developing and achieving joint-industry agenda and the enthronement of an intra-industry conflict resolution mechanism.

She added that the forum would as an industry voice on national issues and promote the industry’s image and articulate the growth agenda of the industry.

She also said the conference intended to take up and assume any other role that would serve the best interest of the insurance industry in Nigeria.

Chukwuma said that the theme of the conference was apt and timely as it was informed by the need for the insurance industry to key into the drive of the present administration towards re-building a virile national economy through the diversification and expansion of national infrastructural resources.

She said, “We are living witnesses to the various efforts being made by the present administration to take our national economy out of the doldrums through the annexation of all latent national resources. This effort definitely calls for the support of all strategic stakeholders, of which the insurance industry is cardinal.”

 

Source: Punch