NAICOM To Tackle Lapses In Insurers Management
The National Insurance Commission (NAICOM) has urged the board of directors of insurance companies to tackle and ensure sound management of the companies without interfering in the management functions.
This was disclosed by the acting Commissioner for Insurance, Mr Sunday Thomas during the second edition of the conference for directors of insurance companies on Tuesday in Lagos, stating that board are expected to ensure the general wellbeing of the organisation.
He noted that insurers management must be monitored to guarantee effective and efficient deployment of human and capital resources in the overall benefit of all stakeholders.
“The observance of this role has been lacking in some of our companies and which has contributed in no small measure to the challenges facing these companies today.
“It is our firm believe that members of the board can effectively perform their roles without necessarily interfering in management functions. The desire of the commission is to work with all stakeholders including members of the board of directors to reverse this trend.”
In addition, Thomas said the commission would not tolerate any action of delayed claims payment or default of genuine claims by the insurance companies.
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