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The National Insurance Commission (NAICOM) has stressed the need for the industry to collaborate with government agencies to transform the industry. The commission said this during a meeting with the Nigerian Electricity Management Services Agency (NEMSA) where both agencies signed a memorandum of understanding (MoU) on insurance enforcement.

The partnership aims to mitigate potential risks, protect investments and promote economic growth, the parties said. The Commissioner for Insurance, Olusegun Omosehin, described the partnership as a “landmark strategy” that will foster development through collaboration and enforcement. He reaffirmed NAICOM’s commitment to achieving the expected compliance.

The Deputy Commissioner for Insurance Technical, Dr Usman Jankara, reassured the NEMSA delegation of NAICOM’s commitment to the partnership, emphasizing the importance of teamwork in achieving shared objectives.

https://guardian.ng/business-services/business/naicom-nemsa-to-partner-on-improved-insurance-compliance/