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Lawmakers support NIA’s move to reposition industry

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.Pledges speedy scrutiny of insurance act amendment
The Speaker, House of Representatives, Femi Gbajabiamila, has expressed readiness of lawmakers to partner with the insurance sector for improved services for further development of Nigeria.

Gbajabiamila, who spoke when he hosted executives of the Nigeria Insurers Association (NIA), during a courtesy visit to his office in Abuja, said underwriting is an important sector in the nation.

He said: “The House of Representatives is always happy to collaborate with any sectors of the economy that would enhance development. There’s no gainsaying that the insurance services in any economy, is perhaps, one of the most important areas in any business.

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“It’s secures lives and property. We are more than ready to always partner with the sector.”

Speaking on the amendment of the Insurance Act, Gbajabiamila said work is in progress, as the Bill has already passed first reading in the House, before it comes for second reading, and then the public hearing. “You should work with the committee so that you guys can work and agree on what should go in and out of the amendment. I think that’s already in the works as we’re open to discussing further with you.”

The Chairman, NIA, Ganiyu Musa, who led the delegation, told the Speaker that the insurance industry needs the support of the House to make the sector better.
While wishing him a successful tenure, the Chairman said: “We share your aspirations for the country; we share your dreams for a better Nigeria; we assure you that we’ll like to collaborate with you and the House to contribute to the overall welfare of the citizens.

“The industry contributed to the fight against the COVID-19 pandemic. Our desire is to improve engagements, and we seek appropriate legislative intervention and assistance. We need you to address some of the bottlenecks that militate against the realisation of industry development.”

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