IIC urges FG to make health insurance compulsory for Nigerians

The Insurance Industry Consultative Council (IICC) has called on the government at all levels to make health insurance compulsory for Nigerians.

The Chairman, IICC, Muftau Oyegunle, at the 2021 IICC Retreat in Ogun State, made the call against the backdrop of the collapsed Ikoyi building.

The IICC is a body that unites all the arms of the insurance industry in Nigeria. It is an organ through which the insurance operators speak on crucial issues that affect the industry.

It comprises the Nigerian Insurers Association (NIA), Nigerian Council of Registered Insurance Brokers (NCRIB), Chartered Insurance Institute of Nigeria (CIIN) and Institute of Loss Adjusters of Nigeria (ILAN).

Oyegunle said the Federal Government could achieve this by subsidising the premium paid by Nigerians on health policy. He noted that this had been done successfully in other countries.

The Managing Director/Chief Executive Officer, Afriglobal Insurance Brokers Limited, Casmir Azubuike, while presenting his paper titled, ‘Changing the Face of Insurance Practice,’ at the retreat, urged the government to regulate the high cost of building materials.

He explained that due to the high cost of building materials, developers use substandard materials or cut corners to save cost.