CIIN wants FG, states to prioritise insurance adoption

The Chartered Insurance Institute of Nigeria (CIIN) has called on the Federal and state governments to create an enabling environment for insurance to thrive in their domains to take the nation’s economy to a greater height.

Speaking at a press briefing in Lagos, the President of CIIN, Funmi Babington-Ashaye, said the institute under her leadership, have visited and engaged key public functionaries to encourage them to see insurance not only as a great profession, but to leverage insurance products to secure public sector assets and enhance their ability to create wealth for the future generations.

Some of the visits, according to her, include the governors of Oyo, Ogun and Ondo states, as well as the Head of Civil Service of the Federation, Winifred Oyo-Ita, in Abuja, which were described as successful.

Stating that the visit to the Head of Civil Service was particularly important, she said unlike other professional qualifications that are recognised in the scheme of service, the qualification of CIIN is not included despite the fact that it has been duly recognised by the Federal Ministry of Education.

“We were greatly encouraged by the response and assurance of the Head of Civil Service that the matter will be dealt with urgently by the relevant government agencies.

“We also used the opportunity to canvass for the insurance of public sector assets by Nigerian underwriting companies to protect them against unforeseen contingencies,” she said.

Moreover, she said under her presidency of CIIN, a youth empowerment programme tagged: “Catch them Young for Youth Corps members” was initiated in Lagos, in December, 2017, in which over 700 corps members, at the Iyana-Ipaja Camp, registered and participated.

At the end of the programme, she said the Insurance Agency Certificates were issued to them with referral letters to aid their internship in insurance firms during the course of their service year, while assuring that the initiative would be sustained through subsequent batches of the National Youths Service Corps (NYSC).

Disclosing that talks have reached an advanced stage between the institute and Babcock University in respect of the establishment of an Insurance Department in the school,  she added that the curriculum for the programme has been prepared and will be presented to the Senate of the University for approval.

“Accreditation of tertiary institutions offering insurance as a course has also been intensified,” she said, adding that a team of the institute has also visited Niger Delta University in Bayelsa State since February, to carry out the accreditation of the institution’s insurance degree programme, which has been approved by the National Universities Commission,” she stressed.