Institute President Urges Professionalism Among Insurers.
AMINA HUSSAINI, Abuja
As insurance companies increase efforts to recapitalise, President of Chartered Insurance Institute of Nigeria (CIIN) Eddie Efekoha has sought highest degree of professionalism and ethical conduct among practitioners in the new year.
The underwriting companies, in the new year are expected to comply with the new rules on industry capitalisation and Efekoha sees 2020 as very important as one that requires them to practice all that had been preached in the previous years.
The sector regulator, the National Insurance Commission (NAICOM) had in 2019 directed operators to increase their capitalisation in line with the new capital requirements for their lines of business.
Efekoha in his New Year message requested insurance professionals to embrace creativity and work harder than ever before for the future of this industry.
“Recapitalization of Insurance and reinsurance companies is no longer an idea but a reality and the industry has to embrace it wholly.
“It will not be an easy ride and all our resources will be stretched thin, however it is my belief that we will all profit from this exercise”he said.
Efekoha who is also the managing director of Consolidated Hallmark Insurance Plc, lauded NAICOM for irs support to the Institute and its programmes in 2019, urging all trade bodies: NIA, NCRIB, ILAN and ARIAN to stay committed to promoting the insurance industry’s agenda for higher heights.
Efekoha explained that the membership of the Institute is one of the major ways to get to the pinnacle of the insurance profession and hence asked members to promptly pay their dues, levies and participate in the institute’s programmes.
“There are many benefits to be derived from the membership of the Institute including but not limited to access to industry reports and research papers, discounted examination fees, group life benefits ( to the tune of N500,000) and permanent disability benefits (to the tune of N250,000). The Institute remains committed to offering value to its members and I can assure you that more benefits will be unveiled in the nearest future.
“The theme of my Presidency is on Advancing Insurance Education and Professionalism. This is consistent with our mission to provide to provide world class manpower with the highest standard of professional and ethical training for operating effectively and efficiently in the Nigerian and International business environment” he added.
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